MPS Ltd (ONF)...4 44 th Annual Report 13,995 12,742 19,101 16,400 18,829 713 (881) 1,087 3,189 4,344 25,000 20,000 15,000 10,000 5,000 0 (5,000) 2011–12 (15 months) 2012–13 2013–14

344th Annual Report

ITEMS PAGE NOS

Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . 03

AGM Notice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 06

Report of the Board of Directors . . . . . . . . . . . . . . . . . . . 16

Management Discussion & Analysis . . . . . . . . . . . . . . . . 20

Corporate Governance Report . . . . . . . . . . . . . . . . . . . . 23

Standalone Auditors Report. . . . . . . . . . . . . . . . . . . . . . 33

!"#$"%&#'()"%"#*'(+,''!-(./&0!(1(2&++("**&3#!-( Cash Flow Statement with Notes to Accounts . . . . . . . . . . 35

Consolidated Auditors Report . . . . . . . . . . . . . . . . . . . . 59

4&#+&%5$"!'$()"%"#*'(+,''!-(./&0!(1(2&++("**&3#!-( Cash Flow Statement with Notes to Accounts . . . . . . . . . 60

Attendance Slip . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84

CONTENTS

Chairman & Managing Director Mr.MrMr Nishith Arora

Vice Chairman & Independent Director Mr.MrMr D. E. Udwadia

Independent Director Mr.MrMr Ashish Dalal

Independent Director Mr.MrMr Vijay Sood

(4,5'6(7"/8'!5#9(:;*'/(1(<,&%'(=5>'(?5/'*!&/( Mr.MrMr Rahul Arora

Company Secretary Mr.MrMr Supriya Kumar Guha

4,5'6(@5#"#*5"%(:;*'/ Mr.MrMr Sunit Malhotra

( 2'9"%(A$B5+&/+ Messrs Udwadia Udeshi & Argus Partners Solicitors & Advocates Elphinstone House, 1st Floor, 17, Murzban Road, Mumbai – 400001

Auditors Messrs Deloitte Haskins & Sells Deloitte Centre, Anchorage II100/2 Richmond Road Bengaluru 560025, India

Bankers BNP PARIBAS Landmark Building, 3rd Floor, 21/15, MLandmark Building, 3rd FloorLandmark Building, 3rd Floor . G. Road, Bengaluru – 560001 Kotak Mahindra Bank Limited10/7, Umiya landmark 3rd Floor, Lavelle Road, Bengaluru – 560001

4&/C&/"!'(:;*' C 35, Sector 62, Noida 201 307, Uttar Pradesh

D'95+!'/'$(:;*' RR Towers IV, Super A, Thiru-vi-ka Industrial Estate, Guindy, Chennai – 600 032

( :!,'/(:;*'+ HMG Ambassador, 137 Residency Road, Bengaluru 560025 340 Udyog Vihar, Phase IV, Gurgaon, Haryana 122016 340 Udyog Vihar340 Udyog Vihar

!"#$%& '##"('##"'##" )*+, -./0/%( *12 3#45678(Okhla Industrial Estate, New Delhi 110020 33, IT Park, Sahastradhara Road, Dehradun 248001

USA 810, SE, Sherman Suite B, Portland, OR 97214, USA

Subsidiary MPS North America LLC 5750 Major Blvd. Suite 100, Orlando FL 32819 USA

Registrars and Cameo Corporate Services LimitedShare Transfer Agents Subramanian Building, 1, Club House Road, Chennai – 600002

KEY INFORMATION

BOARD OF DIRECTORS

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07/07/14 6:03 PM07/07/14 6:03 PM07/07/14 6:03 PM07/07/14 6:03 PM07/07/14 6:03 PM07/07/14 6:03 PM07/07/14 6:03 PM07/07/14 6:03 PM07/07/14 6:03 PM

4 44th Annual Report

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5

Particulars Unit 2009 2010

15 months

2011-12 2012-13 2013-14

Sales & Earnings

Total Income (inclusive of Other Income) 14,274 13,643 19,773 16,898 19,496 14,274 13,643 19,773 16,898 19,496

!"#$%&'("!'%)'*+%,%$-. 1,502 (302) 2,524 4,731 7,100 1,502 (302) 2,524 4,731 7,100

!"#$%&'("!'%$-. 869 (969) 1,456 3,995 6,595 869 (969) 1,456 3,995 6,595

!"#$%-($'!%$-. 749 (968) 1,078 3,114 4,354 749 (968) 1,078 3,114 4,354

/'('!!')%$-.%01-&101$23-44'$ 36 (87)36 (87) (9) (75)(9) (75) 10

5-0-+6'%*!"#$%-($'!%$-. 713 (881) 1,087 3,189 4,344 713 (881) 1,087 3,189 4,344

/171)'+)%*-1)%1+608)1+9%$-.%"+%)171)'+) 197 – 782 1,955 3,346 – 782 1,955 3,346

:'$-1+')%'-!+1+94 516 (881) 305 1,234 999 516 (881) 305 1,234 999

Capital Employed

;1.')%-44'$4

<%=!"44%1+608)1+9%>?@ %,%>-*1$-0%A)7-+6' 6,565 8,852 8,072 7,746 7,545 6,565 8,852 8,072 7,746 7,545

<%B'44C%/'*!'61-$1"+%:'4'!7' (3,477) (5,150) (5,422) (5,570) (5,657) (3,477) (5,150) (5,422) (5,570) (5,657)

<%D'$%;1.')%A44'$4 3,088 3,702 2,650 2,176 1,888 3,088 3,702 2,650 2,176 1,888

Investments 4,320 – 1,220 1,773 2,801 – 1,220 1,773 2,801

/'('!!')%$-.%-44'$4 – – – 66 56 66 56

Non-current assets – – 1,485 1,816 2,093 – 1,485 1,816 2,093

D'$%68!!'+$%-44'$4%EF"!G1+9%6-*1$-0H 3,616 4,127 1,868 2,455 2,434 3,616 4,127 1,868 2,455 2,434

I146J%'.*'+)1$8!'%+"$%F!1$$'+%"K – – – – –

Total 11,025 7,830 7,224 8,286 9,272 11,025 7,830 7,224 8,286 9,272

Represented by

Networth 10,849 6,726 7,031 8,265 9,263 10,849 6,726 7,031 8,265 9,263

5"!!"F1+94%<%4'68!') 71 1,086 51 12 71 1,086 51 12 2

L$M'!%0"+9<$'!N%01-&101$1'4 – – 134 – 134 9 7

!"!##!$%&'(%)*'+*)*&, 105 18 105 18 9 – –

Total 11,025 7,830 7,224 8,286 9,272 11,025 7,830 7,224 8,286 9,272

Ratios

Measures of Performance

PBT to Total income % 6% -7%6% -7% 7% 24% 34%7% 24% 34%

-./%&0%/0&')%*1203! % 5% -6%5% -6% 5% 19% 22%5% 19% 22%

435)0,!!%206&%&0%/0&')%71203! % 54% 62% 54% 46% 40%54% 62% 54% 46% 40%

8!&%9(!$%'66!&6%&0%8!&:0#&; % 28% 55% 38% 26% 20%28% 55% 38% 26% 20%

<*(!$%'66!&6%=6'>! Times 4.62 3.68 7.46 7.76 10.33 Times 4.62 3.68 7.46 7.76 10.33

Measures of Investments

Return on Networth % 7% -13% 15% 39% 47%7% -13% 15% 39% 47%

4'#1*1>6%5!#%6;'#! Rs. 4.24 (5.24) 6.46 18.96 25.82 4.24 (5.24) 6.46 18.96 25.82

*?*$!1$%5',0=&%#'&*0 % 28% 0% 72% 61% 77%0% 72% 61% 77%

*?*$!1$%20?!#'>!%#'&*0 Times 3.62 Times 3.62 – 1.39 1.63 1.30– 1.39 1.63 1.30

Measures of Financial Status

@=##!1&%#'&*0 Unit 1.71 1.87 1.97 2.28 2.72 Unit 1.71 1.87 1.97 2.28 2.72

!+&%!A=*&,%#'&*0 Unit 0.01 0.16 0.01 0.00 0.00 Unit 0.01 0.16 0.01 0.00 0.00

B7-%;0)$*1>%C01%6')!6D ',6 31.87 32.22 17.68 19.80 15.17 31.87 32.22 17.68 19.80 15.17

Other information

@01&#*+=&*01%&0%!(2;!A=!# Rs. 70.39 123.57 206.89 848.62 1,914.49 Rs. 70.39 123.57 206.89 848.62 1,914.49

435)0,!!

E%@06& Rs. 7,730 8,403 10,687 7,712 7,807 Rs. 7,730 8,403 10,687 7,712 7,807

E%8=3+!#6 Nos. 2,639 2,713 2,143 2,331 2,725 Nos. 2,639 2,713 2,143 2,331 2,725

8=3+!#%0"%6;'#!;0)$!#6 Nos. 9,187 8,505 7,525 6,604 6,737 Nos. 9,187 8,505 7,525 6,604 6,737

*?*$!1$%C*12)=$*1>%71&!#*3%$*?*$!1$D % 10% 0% 40% 100% 170%0% 40% 100% 170%

F00G%?')=!%H%1!&%:0#&;%5!#%6;'#! Rs. 64.49 39.98 41.79 49.13 55.06Rs. 64.49 39.98 41.79 49.13 55.06

FIVE YEARS SUMMARY

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INR in Lacs

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MPS LIMITED

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NOTES

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9

The instructions for members for voting electronically are as under:In case of members receiving e-mail:W#Z U-"(-;(%-(%B!(!JH-%#;"(.!G$#%!(...Q!H-%#;"#;'#<Q+-M(

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ANNEXURE 1

Details of Director seeking appointment

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

Name Mr. Nishith Arora

B>)%"(D"U--(*+)1%+) B%0%1H%."R8"79::

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P^J

I$>.%$(5/*+,"*+")$%"E(1->+6"<P(!"(D"2$>.%2? P^J

Details of Directors seeking appointment

Particulars D.E. Udwadia Ashish Dalal Vijay Sood Rahul Arora

Date of Appointment November 29, 1994 October 29, 2010 January 17, 2012 August 12, 2013

_4>5*`0>)*(+2 N.!"B>.*42"Z"_4>5*`0>)*(+2 N.!"B>.*42"Z"b/L>/*>"*2">"-(2)",.>/4>)%"D.(1"b+*'%.2*)6"(D"Y(1H>6!"a%"*2">+"U/'(0>)%">+/"I(5*0*)(."(D")$%"Y(1H>6"a*,$"E(4.)!"a%"*2">52(">"I(5*0*)(."(D")$%"I4-.%1%"E(4.)"(D"Z+,5>+/!

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(contd.)

Page_6-15_AGM_Notice.indd 10Page_6-15_AGM_Notice.indd 10Page_6-15_AGM_Notice.indd 10Page_6-15_AGM_Notice.indd 10Page_6-15_AGM_Notice.indd 10Page_6-15_AGM_Notice.indd 10Page_6-15_AGM_Notice.indd 10 07/07/14 6:19 PM07/07/14 6:19 PM07/07/14 6:19 PM07/07/14 6:19 PM07/07/14 6:19 PM07/07/14 6:19 PM07/07/14 6:19 PM07/07/14 6:19 PM

11

Details of Directors seeking appointment (contd.)



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(contd.)



Details of Directors seeking appointment (contd.)



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P^J UE"(D=#>4.42"U22%)"N>+>,%1%+)"E(1->+6"J*1*)%/!

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EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013 RELATING TO THE SPECIAL BUSINESS

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13

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Item no. 5

N.!"B>.*42"Z!"b/L>/*>"<N.!"b/L>/*>?"*2">"P(+&ZV%04)*'%"^+/%-%+/%+)"B*.%0)(."(D")$%"E(1->+6!""a%"L>2">--(*+)%/"(+")$%"Y(>./"*+": ;">+/")$%.%>D)%."$>2"H%%+".%)*.*+,">+/".%>--(*+)%/"(+")$%"Y(>./8"5>2)".%>--(*+)1%+)"H%*+,">)")$%"UXN"$%5/"*+"79:7!"N.!"b/L>/*>"*2">"1%1H%."(D")$%"U4/*)"E(11*))%%">+/"P(1*+>)*(+">+/"O%14+%.>)*(+"E(11*))%%"(D")$%"Y(>./!"a%"*2">52(">+"%1*+%+)"5>L6%.">+/"*2">"I(5*0*)(.">+/"U/'(0>)%"(D")$%"Y(1H>6"a*,$"E(4.)!"a%"*2">52(">"I(5*0*)(."(D")$%"I4-.%1%"E(4.)"(D"Z+,5>+/!"

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#$%"Y(>./"*2"(D")$%"(-*+*(+")$>)"N.!"b/L>/*>"D45`52")$%"0(+/*)*(+2"2-%0*`%/"*+"I%0)*(+2":; 8":S9">+/"I0$%/45%"^f")(")$%"E(1->+*%2"U0)8"79:@">+/")$%".45%2"1>/%")$%.%4+/%."D(.">--(*+)1%+)"(D">+"^+/%-%+/%+)"B*.%0)(."(D")$%"E(1->+6!""E(-6"(D")$%"/.>D)"5%))%.">--(*+)*+,"N.!"b/L>/*>">2">+"^+/%-%+/%+)"B*.%0)(."L(45/"H%">'>*5>H5%"D(."*+2-%0)*(+">)")$%".%,*2)%.%/"([0%"(D")$%"E(1->+6"/4.*+,"H42*+%22"$(4.2"(+">+6"L(.W*+,"/>68"%V054/*+,"I>)4./>6!"E(+2*/%.*+,"N.!"b/L>/*>C2"'>.*%/"%V-%.*%+0%")$%"Y(>./"0(+2*/%.2"$*2"0(+)*+4%/">22(0*>)*(+"L*)$")$%"E(1->+6">2">+"^+/%-%+/%+)"B*.%0)(.")("H%"(D"*11%+2%"H%+%`)!""#$%"Y(>./".%0(11%+/2"->22*+,")$%".%2(54)*(+">2"-.(-(2%/!"N.!"b/L>/*>"/(%2"+()"$(5/">+6"2$>.%2"*+")$%"E(1->+6!

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Item no. 6

N.!"U2$2*$"B>5>5"<N.!"B>5>5?"*2">"P(+&ZV%04)*'%"^+/%-%+/%+)"B*.%0)(."(D")$%"E(1->+6!"a%"L>2">--(*+)%/"(+")$%"Y(>./"*+"79:9">+/")$%.%>D)%."$>'%"H%%+".%)*.*+,">+/"H%*+,".%>--(*+)%/"*+")$%"Y(>./8"5>2)".%>--(*+)1%+)"H%*+,">)")$%"UXN"$%5/"*+"79:@!"N.!"B>5>5"*2">"1%1H%."(D")$%"I)>W%"a(5/%.2" O%5>)*(+2$*-"E(11*))%%" >+/"P(1*+>)*(+" >+/"O%14+%.>)*(+"E(11*))%%" (D" )$%"Y(>./!"a%" *2" >52(" >+" %1*+%+)"E$>.)%.%/"U00(4+)>+)!"a%"L>2"%>.5*%."->.)+%."(D"B>5>5T"I$>$8"E$>.)%.%/"U00(4+)>+)2">+/">52("->.)+%."(D"].*0%"d>)%.$(42%8"E$>.)%.%/"U00(4+)>+)2!"a%">52(">/'*2%2"'>.*(42"()$%."0(.-(.>)%"*+">+">/'*2(.6"0>->0*)6!"a%"L>2"%>.5*%."Y(>./"1%1H%."(D"1>+6".%-4)%/"0(1->+*%2"5*W%"UWF("P(H%5"E$%1*0>52"<^+/*>?"J)/!8"ÊÊ^"^+'%2)1%+)"N>+>,%1%+)"E(!"J)/!8"N45)*"E(11(/*)6"ZV0$>+,%"(D"^+/*>"J)/8"P*)%2$"Z2)>)%2"J*1*)%/"%)0!

#$%"/%)>*52"(D"N.!"B>5>5">.%",*'%+"*+"U++%V4.%":!""N.!"B>5>5"L>2">--(*+)%/">2">+"^+/%-%+/%+)"B*.%0)(."(D")$%"E(1->+6">)")$%"1%%)*+,"(D")$%"Y(>./"(D"B*.%0)(.2"$%5/"(+"N>6"778"79:;"-4.24>+)")("I%0)*(+2":; 8":S9">+/"()$%.">--5*0>H5%"-.('*2*(+"(D")$%"E(1->+*%2"U0)8"79:@"24H\%0)")(")$%">--.('>5"(D")$%"2$>.%$(5/%.2"(D")$%"E(1->+6">)")$%"%+24*+,"U++4>5"X%+%.>5"N%%)*+,"D(.">")%.1"(D"S"<`'%?"0(+2%04)*'%"6%>.2"D.(1"N>6"778"79:;!

#$%"Y(>./"*2"(D")$%"(-*+*(+")$>)"N.!"B>5>5"D45`52")$%"0(+/*)*(+2"2-%0*`%/"*+"I%0)*(+2":; 8":S9">+/"I0$%/45%"^f")(")$%"E(1->+*%2"U0)8"79:@">+/")$%".45%2"1>/%")$%.%4+/%."D(.">--(*+)1%+)"(D">+"^+/%-%+/%+)"B*.%0)(."(D")$%"E(1->+6!""E(-6"(D")$%"/.>D)"5%))%.">--(*+)*+,"N.!"B>5>5">2">+"^+/%-%+/%+)"B*.%0)(."L(45/"H%">'>*5>H5%"D(."*+2-%0)*(+">)")$%".%,*2)%.%/"([0%"(D")$%"E(1->+6"/4.*+,"H42*+%22"$(4.2"(+">+6"L(.W*+,"/>68"%V054/*+,"I>)4./>6!"E(+2*/%.*+,"N.!"B>5>5C2"'>.*%/"%V-%.*%+0%")$%"Y(>./"0(+2*/%.2"$*2"0(+)*+4%/">22(0*>)*(+"L*)$")$%"E(1->+6">2">+"^+/%-%+/%+)"B*.%0)(.")("H%"(D"*11%+2%"H%+%`)!""#$%"Y(>./".%0(11%+/2"->22*+,")$%".%2(54)*(+">2"-.(-(2%/!"N.!"B>5>5"/(%2"+()"$(5/">+6"2$>.%2"*+")$%"E(1->+6!"

ZV0%-)"N.!"B>5>5"+(+%"(D")$%"B*.%0)(.2">+/"p%6"N>+>,%.*>5"]%.2(++%5"(D")$%"E(1->+6">+/")$%*.".%5>)*'%2"*2"0(+0%.+%/"(."*+)%.%2)%/"*+")$%".%2(54)*(+"2%)"(4)">)"*)%1"+(!"A!

Item no. 7

N.!"f*\>6"I((/"<N.!"I((/?"*2">"P(+&ZV%04)*'%"̂ +/%-%+/%+)"B*.%0)(."(D")$%"E(1->+6!"a%"L>2">--(*+)%/"(+")$%"Y(>./">2">+"U//*)*(+>5"B*.%0)(."*+"79:7">+/".%>--(*+)%/"*+")$%"Y(>./">)")$%"UXN"$%5/"*+"79:7!"N.!"I((/"*2"E$>*.1>+"(D")$%"U4/*)"E(11*))%%">+/"1%1H%."(D")$%"P(1*+>)*(+">+/"O%14+%.>)*(+"E(11*))%%">+/"E(.-(.>)%"I(0*>5"O%2-(+2*H*5*)6"E(11*))%%"(D")$%"Y(>./!"N.!"I((/"*2"X.>/4>)%"*+"Z0(+(1*02"D.(1"B%5$*"b+*'%.2*)68">"E(2)"U00(4+)>+)">+/">52("NYU"D.(1"^^N8"U$1%/>H>/!"a%"$>2"%>.5*%."L(.W%/"D(."'>.*(42".%-4)%/"0(.-(.>)%<2?">+/"-.%2%+)56")$%"N>+>,*+,"B*.%0)(."(D"aY"a(5/*+,2"J*1*)%/!"

#$%"/%)>*52"(D"N.!"I((/">.%",*'%+"*+"U++%V4.%":!"N.!"I((/"L>2">--(*+)%/">2">+"^+/%-%+/%+)"B*.%0)(."(D")$%"E(1->+6">)")$%"1%%)*+,"(D")$%"Y(>./"(D"B*.%0)(.2"$%5/"(+"N>6"778"79:;"-4.24>+)")("I%0)*(+2":; 8":S9">+/"()$%.">--5*0>H5%"-.('*2*(+"(D")$%"E(1->+*%2"U0)8"79:@"24H\%0)")(")$%">--.('>5"(D")$%"2$>.%$(5/%.2"(D")$%"E(1->+6">)")$%"%+24*+,"U++4>5"X%+%.>5"N%%)*+,"D(.">")%.1"(D"S"<`'%?"0(+2%04)*'%"6%>.2"D.(1"N>6"778"79:;!"

#$%"Y(>./"*2"(D")$%"(-*+*(+")$>)"N.!"I((/"D45`52")$%"0(+/*)*(+2"2-%0*`%/"*+"I%0)*(+2":; 8":S9">+/"I0$%/45%"^f")(")$%"E(1->+*%2"U0)8"79:@">+/")$%".45%2"1>/%")$%.%4+/%."D(.">--(*+)1%+)"(D">+"^+/%-%+/%+)"B*.%0)(."(D")$%"E(1->+6!""E(-6"(D")$%"/.>D)"5%))%.">--(*+)*+,"N.!"I((/">2">+"^+/%-%+/%+)"B*.%0)(."L(45/"H%">'>*5>H5%"D(."*+2-%0)*(+">)")$%".%,*2)%.%/"([0%"(D")$%"E(1->+6"/4.*+,"H42*+%22"$(4.2"(+">+6"L(.W*+,"/>68"%V054/*+,"I>)4./>6!"E(+2*/%.*+,"N.!"I((/C2"'>.*%/"%V-%.*%+0%")$%"Y(>./"0(+2*/%.2"$*2"0(+)*+4%/">22(0*>)*(+"L*)$")$%"E(1->+6">2">+"^+/%-%+/%+)"B*.%0)(.")("H%"(D"*11%+2%"H%+%`)!""#$%"Y(>./".%0(11%+/2"->22*+,")$%".%2(54)*(+">2"-.(-(2%/!""N.!"I((/"$(5/2" 8R@:"2$>.%2"(D")$%"E(1->+6!"

ZV0%-)"N.!"I((/"+(+%"(D")$%"B*.%0)(.2">+/"p%6"N>+>,%.*>5"]%.2(++%5"(D")$%"E(1->+6">+/")$%*.".%5>)*'%2"*2"0(+0%.+%/"(."*+)%.%2)%/"*+")$%".%2(54)*(+"2%)"(4)">)"*)%1"+(!"R!

Item no. 8

#$%"Y(>./"(D"B*.%0)(.2">)"*)2"1%%)*+,"$%5/"(+"Q%H.4>.6":;8"79:;8">--(*+)%/"N2!"l>1*+*"#>+/(+8"L*D%"(D"N.!"O>$45"U.(.>8"d$(5%"#*1%"B*.%0)(.">+/"/>4,$)%.&*+&5>L"(D"N.!"P*2$*)$"U.(.>8")$%"E$>*.1>+"T"N>+>,*+,"B*.%0)(."(D")$%"E(1->+68">2"f*0%"].%2*/%+)&"I%.'*0%"B%5*'%.6"%G%0)*'%"D.(1"Q%H.4>.6":R8"79:;8"4-(+")$%")%.12">+/"0(+/*)*(+2"0(+)>*+%/"*+")$%"/.>D)"U,.%%1%+)"H%)L%%+")$%"E(1->+6">+/"N2!"l>1*+*"#>+/(+"<j)$%"U,.%%1%+)k?".%D%..%/")("*+")$%"2-%0*>5".%2(54)*(+">)"̂ )%1"P(!"e"(D")$%"P()*0%8"24H\%0)")(")$%">--.('>5"(D")$%"1%1H%.2"*+",%+%.>5"1%%)*+,"-4.24>+)")(")$%"-.('*2*(+2"(D"24H"2%0)*(+"<:?"(D"I%0)*(+"@:;"(D")$%"E(1->+*%2"U0)8": SA!

I%0)*(+"@:;<:?"(D")$%"E(1->+*%2"U0)8": SA"<j)$%"U0)k?"*+)%.">5*>8"-.('*/%/")$>)"%V0%-)"L*)$")$%"0(+2%+)"(D")$%"0(1->+6"H6">"2-%0*>5".%2(54)*(+8"+(".%5>)*'%"(D">"B*.%0)(."(D">"0(1->+6"2$>55"$(5/">+6"([0%"(."-5>0%"(D"-.(`)"4+/%.")$%"0(1->+6"0>..6*+,">")()>5"1(+)$56".%14+%.>)*(+"(D"+()"5%22")$>+"O2!"S98999c&!I*+0%"N2"l>1*+*"#>+/(+C2"1(+)$56".%14+%.>)*(+"L(45/"+()"H%"5%22")$>+"O2!"S98999"c&"2$%"L(45/"H%"$(5/*+,">+"([0%"(."-5>0%"(D"-.(`)"4+/%.")$%"E(1->+6"H6"'*.)4%"(D")$%"2>*/"24H"2%0)*(+"<:?"(D"I%0)*(+"@:;".%M4*.*+,")$%"0(+2%+)"(D")$%"E(1->+6"*+"X%+%.>5"N%%)*+,!"d*)$"05>42%" <D?" (D" 24H"2%0)*(+" <:?"(D"I%0)*(+":ee"(D" )$%"E(1->+*%2"U0)8"79:@"0(1*+," *+)(" D(.0%" D.(1"U-.*5" :8"79:@"0(..%2-(+/*+,")("24H"2%0)*(+"<:?"(D"I%0)*(+"@:;"(D")$%"E(1->+*%2"U0)8": SA">+/")$%".45%2"1>/%")$%.%"4+/%.8">"2-%0*>5".%2(54)*(+">)"^)%1"P(!"e"(D")$%"P()*0%"$>2"H%%+"-.(-(2%/"D(.")$%">--.('>5"(D")$%"1%1H%.2!

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REPORT OF THE BOARD OF DIRECTORSThe Directors are pleased to present the Forty-fourth Annual Report together with the Accounts for the year ended March 31, 2014.

!"#$%&'(#)&%#(!"#*"+%#",-"-#./#+/#0,-"%1INR in Lacs

Accounts

For the year ended 31.03.2014

For the year ended 31.03.2013

2%&'(##)&%#(!"#*"+%#+)("%#-"$%"3.+(.&,#+,-#(+4+(.&, 4,344.44 3,189.02

Surplus brought forward from previous year 6,154.77 5,239.83

Total 10,499.21 8,428.85

5-60/(7",(/85$$%&$%.+(.&,/1

Interim Dividend Paid +4#&,#.,("%.7#-.9.-",-

2,859.85486.03

1,682.27 272.91

Transfer to General Reserve 434.44 318.90

Surplus carried forward 6,718.89 6,154.77

Total 10,499.21 8,428.85

Dividend The Board declared 1st Interim Dividend of Rs. 5 per share on August 5, 2013 followed by a second Interim Dividend of Rs. 5 per share on November 13, 2013 and a third interim dividend of Rs. 7 per share on February 14, 2014. The aggregate of dividend paid for the year was :/;#<=#$"%#/!+%"#>$%"9.&0/#*"+%#:/#<?#$"%#/!+%"@#+,-#(!"#(&(+A#3+/!#&0(B&C#>.,3A0-.,D#-.9.-",-#-./(%.E0(.&,#(+4#(!"%"&,@#C+/#:/#FF;GH#3%&%"/#)&%#I?<FJ<G#+/#+D+.,/(#:/;#<K;LL#3%&%"/#)&%#(!"#$%"9.&0/#*"+%;# !"#(&(+A#-./(%.E0(.&,#&)#$%&'(#+)("%#(+4#+/#-.9.-",-#)&%#(!"#30%%",(#*"+%#/(+,-/#+(#==;?<M;# !"#+E&9"#./#(!"#',+A#-.9.-",-#-"3A+%"-#E*#(!"#N&7$+,*;

Progress of the Business !"!#$!%&'()%*+!',-.(#/%&('%-0!%1!,'%!#2!2%3,'40%567%896:%;,/% /%6<<=8>%4'('!/%,/%,?,.#/-% /%6@:%4'('!/%&('%-0!%+'!".($/%1!,'=%A0!%B'(C-%,&-!'%A,D%was Rs. 43.44 crores and EPS Rs 25.82 as against Rs 31.89 crores and Rs. 18.96 per share respectively for the previous year ended March 31, 2013.

A0!%E()+,#1F/%!G('-%-(%!D+,#2%(+!',-.(#/%.#%A.!'%HH%4.-.!/%4(#-.#$!2%2$'.#?%-0!%1!,'%-0,-%'!/$I-!2%.#%,40.!".#?%I(;!'%/-,G%4(/-/=%J-'(#?%&(4$/%'!),.#!2%(#%4(/-%(+-.).K,-.(#%;.-0%I(;%",I$!%,22!2%;('L%M!.#?%($-/($'4!2=%E()+,#1F/%),'L!-.#?%(+!',-.(#/%;!'!%&$'-0!'%/-'!#?-0!#!2%with the induction of senior resource for customer relationship management. Price pressure on sales continued during the year though it was partly compensated by higher volume from the customers.

N$'.#?%-0!%1!,'%-0!%E()+,#1%-0'($?0%.-/%/$M/.2.,'1%3BJ%O('-0%P)!'.4,%QQE%,4R$.'!2%-0!%,//!-/%(&%SI!)!#-%QQE%-0'($?0%,%4($'-%,++'("!2%+'(4!//=%A0./%,4R$./.-.(#%0,/%#(;%?."!#%-0!%E()+,#1%,%&((-0(I2%.#%&$IIT/!'".4!%!2.-('.,I7%2!/.?#%,#2%+'(2$4-.(#%/!'".4!/%-(%-0!%!2$4,-.(#,I%+$MI./0.#?%),'L!-%;.-0%!D+!'-./!%.#%2!"!I(+.#?%-$'#TL!1%/(I$-.(#/%&('%+'.#-%,#2%(#I.#!%+'(2$4-/%,#2%2!"!I(+.#?%4(#-!#-%,#2%+'(2$4-/%&('%learners of all ages in a broad range of curriculum and subject, with specialization in pre kindergarten and Kindergarten to Standard XII ),'L!-%/!4-('/=%A0!%M$/.#!//%/(%,4R$.'!2%;.II%!#0,#4!%-0!%E()+,#1F/%+'!/!#4!%.#%-0!%%UJ%!2$4,-.(#,I%+$MI./0.#?%),'L!-=

SubsidiaryA0!%E()+,#1F/%/$M/.2.,'1%3BJ%O('-0%P)!'.4,%QQE% V3BJOPW%;,/% .#4('+(',-!2% .#%-0!%J-,-!%(&%XI('.2,%(#%3,1%8>7%8965=%A0!%'!"!#$!%&('%-0!%+!'.(2%!#2!2%3,'40%567%896:%;,/%UJN%6=:Y%).II.(#=%A0!%!)+I(1!!%4(/-%2$'.#?%-0!%+!'.(2%;,/%UJN%6=9Y%).II.(#%,#2%(-0!'%4(/-/%;!'!%UJN%@>@%-0($/,#27%'!/$I-.#?%.#%,%+'!-,D%I(//%(&%UJN%59Y%-0($/,#2%,#2%,&-!'%-,D%,2Z$/-)!#-%,%I(//%(&%UJN%6>9%-0($/,#2=

MPSNA has broken even from March 2014 with increased revenue and proper manpower planning. Barring unforeseen circumstances, MPSNA will start generating surplus from the current year 2014-15.

!"#$"%&'(#')*&"+$*)*,'(-.*A0!%)!)M!'/%;.II%'!4,II%-0,-%,%/+!4.,I%'!/(I$-.(#%&('%/0.&-.#?%(&%-0!%'!?./-!'!2%([4!%;,/%+,//!2%.#%3,1%8965=%X(II(;.#?%-0!%+,//.#?%(&%-0!%/+!4.,I%'!/(I$-.(#7%,++I.4,-.(#%0,/%M!!#%CI!2%;.-0% !?.(#,I%N.'!4-('7%E0!##,.%&('%,++'(",I%&('%/0.&-.#?%(&%-0!%'!?./-!'!2%([4!%-(%O,-.(#,I%E,+.-,I%A!''.-('17%N!I0.=%A0!%),--!'%./%1!-%-(%M!%0!,'2%M1%-0!% !?.(#,I%N.'!4-('=

Outlook A0!%E()+,#1%0,/%!)M,'L!2%(#%!D+,#2.#?%.-/%4I.!#-%M,/!%M1%/-'!#?-0!#.#?%-0!%),'L!-.#?%('?,#.K,-.(#%-(%)!!-%-0!%40,#?.#?%),'L!-.#?%21#,).4/=%\0.I!%!4(#().!/%;.II%M!%/($?0-%M1%),Z('%4I.!#-/7%,#%!)+0,/./%(#%.)+'(".#?%(+!',-.#?%![4.!#4.!/7%,$-(),-.#?%+'(4!//!/%&('%0.?0!'%+'(2$4-.".-1%,#2%4I(/!%4$/-()!'%.#-!'&,4!%&('%"(I$)!%?'(;-0%./%I.L!I1%-((G/!-%-0!.'%.)+,4-%(#%-0!%4()+,#1F/%C#,#4.,I%+!'&('),#4!=%The challenge as always will be to increase the top line in foreign currency terms.

P/%+$MI./0!'/%4(#-.#$!%-(%!"(I"!%-0!.'%2.?.-,I%/-',-!?17%-0!%E()+,#1%./%.#%,%?((2%+(/.-.(#%-(%!D+I(.-%-0!%$+/.2!%.#%2.?.-,I%M$/.#!//%,#2%M,''.#?%$#&('!/!!#%4.'4$)/-,#4!/7%;.II%M!%,MI!%-(%4,-!'%-(%-0!%!#-.'!%",I$!%40,.#%(&%-0!%+$MI./0.#?%/!'".4!/%2(),.#=%]($'%E()+,#1%./%;!II%+(/.-.(#!2%-(%+'(".2!%^!D.M.I.-1%-(%4I.!#-/%-(%/!I!4-%$+/-'!,)%,#2%2(;#/-'!,)%/!'".4!/%&'()%!D./-.#?%/!'".4!%'!I,-.(#/0.+=

Detailed analysis, discussion, and progress reports are available in the Management Discussion and Analysis.

Overall Company StrategyA0!%E()+,#1F/%4$''!#-%/-',-!?1%'!),.#/_

To increase the size, scope, and technological advantage of its business as a global, high value-add, IT-enabled service provider for +$MI./0.#?%,4-.".-.!/%.#4I$2.#?%!TB$M%,#2%M!%,%I!,2!'%.#%-0./%,'!,=%A0!%/-',-!?.4%.#-!#-%./%-(%+I,1%,%),Z('%+,'-%.#%-0!%0,'#!//.#?%(&%H#2.,F/%/L.II/7%,M.I.-.!/7%,#2%4(/-T,2",#-,?!/%,#2%-(%4(#-'.M$-!%-(%H#2.,F/%2().#,-.(#%(&%HAT!#,MI!2%/!'".4!/%.#%-0!%4().#?%1!,'/=%

Page_16-19_Report_board_directors.indd 16Page_16-19_Report_board_directors.indd 16Page_16-19_Report_board_directors.indd 16Page_16-19_Report_board_directors.indd 16Page_16-19_Report_board_directors.indd 16Page_16-19_Report_board_directors.indd 16Page_16-19_Report_board_directors.indd 16 05/07/14 5:32 PM05/07/14 5:32 PM05/07/14 5:32 PM05/07/14 5:32 PM05/07/14 5:32 PM05/07/14 5:32 PM05/07/14 5:32 PM05/07/14 5:32 PM

17

Conservation of Energy, Technology Absorption, and Foreign Exchange Earnings and Out-goThe provisions regarding disclosure of particulars in Form A with respect to Conservation of Energy are not applicable to the Publishing !"#$%!&'$()*&+",'-&'+.!'/0!"-+$/(&'-"!'(/+'!(!"1,'$(+!(&$#!2'3/4!#!"'%/(&+-(+'!5/"+&'-"!'6!$(1'7-)!'+/'7-8!'+.!'$(9"-&+"*%+*"!'7/"!'!(!"1,'!:%$!(+2';-"+$%*<-"&'"!1-")$(1'=!%.(/</1,'>6&/"0+$/(?'@!&!-"%.'-()'A!#!</07!(+'$('B/"7'C'-"!'-((!D!)'+/'+.$&'"!0/"+2'

A*"$(1'+.!',!-"'*()!"'"!#$!4?'9/"!$1('!D%.-(1!'!-"(!)'+."/*1.'!D0/"+&'4-&'@&EFF2GH'%"/"!&'-&'-1-$(&+'@&EHI2FJ'%"/"!&'9/"'+.!'0"!#$/*&',!-"'!()!)'K-"%.'IE?'LGEI2'B/"!$1('!D%.-(1!'/*+1/'4-&'@&2EL2HJ'%"/"!&'-&'-1-$(&+'+.!'0"!#$/*&',!-"'M1*"!'/9'@&2EI2GL'%"/"!&2'=.*&'+.!'(!+'9/"!$1('!D%.-(1!'!-"(!)'6,'+.!'N/70-(,'4-&'@&'EOP2IO'%"/"!&2'=.!')!+-$<&'/9'!-"($(1&'-()'/*+1/'-"!'1$#!('$('+.!'Q/+!&'9/"7$(1'0-"+'/9'+.!'>%%/*(+&'9/"'+.!',!-"'!()!)'K-"%.'IE?'LGER2'

DirectorsK"2'@-.*<'>"/"-?'N.$!9'K-"8!+$(1'S:%!"'/9'+.!'N/70-(,'4-&'-00/$(+!)'-&'-('>))$+$/(-<'A$"!%+/"'!5!%+$#!'9"/7'>*1*&+'EL?'LGEI2'K"2'@-.*<'>"/"-'$&'-'T./<!'=$7!'A$"!%+/"'/9'+.!'N/70-(,2'3$&'0!"$/)'/9'-00/$(+7!(+'$&'9/"'-'0!"$/)'/9'P'UM#!V',!-"&'9"/7'>*1*&+'EL?'LGEI'&*6W!%+'+/'+.!'-00"/#-<'/9'+.!'7!76!"&'-+'-'1!(!"-<'7!!+$(12'3!'./<)&'/:%!'+$<<'+.!'!(&*$(1'>((*-<'X!(!"-<'K!!+$(1'-()'6!$(1'!<$1$6<!'/5!"&'.$7&!<9'9/"'-00/$(+7!(+2'Q/+$%!'.-&'6!!('"!%!$#!)'9"/7'-'7!76!"'0"/0/&$(1'.$&'%-()$)-+*"!'9/"'+.!'/:%!'/9')$"!%+/"'$('+.!'N/70-(,2'=.!'"!<!#-(+')!+-$<&'/9'+.!'-00/$(+7!(+'-"!'1$#!('$('+.!'!D0<-(-+/",'&+-+!7!(+'$('+.!'(/+$%!'/9'+.!'>((*-<'X!(!"-<'K!!+$(12

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=.!'N/70-(,'.-&'/6+-$(!)'-'4"$++!('%!"+$M%-+!'9"/7'K!&&"&2'A!</$++!'3-&8$(&'_' !<<&?'N.-"+!"!)'>%%/*(+-(+&?'Q!4'A!<.$'+/'+.!'!5!%+'+.-+'+.!$"'-00/$(+7!(+?'$9'7-)!'-+'+.!'>((*-<'X!(!"-<'K!!+$(1?'4/*<)'6!'$('%/(9/"7$+,'4$+.'+.!'<$7$+&'&0!%$M!)'$('+.!'N/70-($!&'>%+?'LGEI2

Particulars of Employees\(9/"7-+$/('-&'0!"'&*6]&!%+$/('UL>V'/9' !%+$/('LEO'/9'+.!'N/70-($!&'>%+?'EJPH'"!-)'4$+.'+.!'N/70-($!&'U;-"+$%*<-"&'/9'Y70</,!!&V'@*<!&'EJOP'9/"7$(1'0-"+'/9'+.!'A$"!%+/"&^'@!0/"+'9/"'+.!',!-"'!()!)'K-"%.'IE?'LGER'$&'-((!D!)'+/'+.$&'@!0/"+2

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Director’s Responsibility Statement;*"&*-(+'+/'&*6]&!%+$/('UL>>V'/9' !%+$/('LEO'/9'+.!'N/70-($!&'U>7!()7!(+V'>%+'LGGE?'+.!'A$"!%+/"&'%/(M"7'+.-+d

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%2 =.!'A$"!%+/"&'.-)'+-8!('0"/0!"'-()'&*:%$!(+'%-"!'9/"'+.!'7-$(+!(-(%!'/9'-)!e*-+!'-%%/*(+$(1'"!%/")&'$('-%%/")-(%!'4$+.'+.!'0"/#$&$/(&'/9'+.!'N/70-($!&'>%+?'EJPH'9/"'&-9!1*-")$(1'+.!'-&&!+&'/9'+.!'N/70-(,'-()'9/"'0"!#!(+$(1'-()')!+!%+$(1'9"-*)'-()'/+.!"'$""!1*<-"$+$!&2'

)2 =.!'A$"!%+/"&'.-)'0"!0-"!)'+.!'>((*-<'>%%/*(+&'/('-'f1/$(1'%/(%!"(^'6-&$&2



0(%+(1",2$*,'3%2%."21'+$2$*4*%$P/% '!R$.'!2%$#2!'% -0!%Q./-.#?%P?'!!)!#-V/W% !#-!'!2% .#-(%;.-0% -0!%J-(4L%SD40,#?!V/W7% 4(#/(I.2,-!2%C#,#4.,I% /-,-!)!#-%(&% -0!%E()+,#1%,#2%.-/%/$M/.2.,'1%./%,--,40!2=%A0!%4(#/(I.2,-!2%C#,#4.,I%/-,-!)!#-%0,"!%M!!#%+'!+,'!2%.#%,44('2,#4!%;.-0%H#2.,#%a!#!',II1%P44!+-!2%P44($#-.#?%B'.#4.+I!/%,/%+'!/4'.M!2%$#2!'%/!4-.(#%866%V5EW%(&%-0!%E()+,#.!/%P4-7%6>Y@=%A0!%4(#/(I.2,-!2%C#,#4.,I%/-,-!)!#-%2./4I(/!/%-0!%,//!-/7%I.,M.I.-.!/7%.#4()!7%!D+!#/!/%,#2%(-0!'%2!-,.I/%(&%-0!%4()+,#1%,#2%.-/%/$M/.2.,'1=

B$'/$,#-%-(%-0!%+'("./.(#%(&%J!4-.(#%868V<W%(&%-0!%E()+,#.!/%P4-7%6>Y@7%-0!%3.#./-'1%(&%E('+(',-!%PG,.'/%".2!%.-/%E.'4$I,'%2,-!2%X!M'$,'1%<7%8966%0,/%?',#-!2%?!#!',I%!D!)+-.(#%&'()%,--,40.#?%-0!%M,I,#4!%/0!!-7%/-,-!)!#-%(&%+'(C-%b%I(//%,#2%(-0!'%2(4$)!#-/%(&%-0!%/$M/.2.,'1%4()+,#.!/%;.-0%-0!%M,I,#4!%/0!!-%(&%-0!%E()+,#1%'!R$.'!2%$#2!'%J!4-.(#%868V6W%(&%A0!%4()+,#.!/%P4-76>Y@%/$MZ!4-%-(%-0!%,++'(",I%(&%-0!%c(,'2%,#2%&$ICII)!#-%(&%4!'-,.#%(-0!'%4(#2.-.(#/=%A0!%c(,'2%(&%N.'!4-('/%+$'/$,#-%-(%-0!%,&('!/,.2%E.'4$I,'%0,2%?."!#%-0!.'%4(#/!#-%,#2%'!/(I"!2%&('%#(-%,--,40.#?%-0!%M,I,#4!%/0!!-%b%(-0!'%2(4$)!#-/=%P%/-,-!)!#-%4(#-,.#.#?%M'.!&%C#,#4.,I%2!-,.I/%(&%-0!%E()+,#1F/%/$M/.2.,'1%for the period ended March 31, 2014 is included in the Annual Report. The annual accounts of the subsidiary and the related information will be made available to any member of the company seeking such information and are available for inspection by any member of the E()+,#1%,-%.-/%'!?./-!'!2%([4!%(&%-0!%E()+,#1%(#%,#1%;('L.#?%2,1%M!-;!!#%69%,)%-(%Y%+)=%

Corporate Social ResponsibilityA0!%E()+,#.!/%P4-7%8965%0,/%M'($?0-%.#%)('!%'!/+(#/.M.I.-1%(#%-0!%E('+(',-!%J!4-('%&('%#,-.(#%M$.I2.#?%-0'($?0%+,'-.4.+,-.(#%.#%E('+(',-!%J(4.,I% !/+(#/.M.I.-1%+'(?',)/=%d(;!"!'7%-0!%E()+,#1%;.-0($-%-0./%M!4().#?%),#2,-('1%0,2%M!!#%+I,1.#?%.-/%+,'-%.#%-0!%C!I2%(&%+'(".2.#?%education, especially to the girl child.

]($'%E()+,#1%0,/%+,'-.4.+,-!2%;.-0%HH3BPEA7%,%#(#+'(C-%('?,#.K,-.(#%-0,-%+'(".2!/%,44!//%-(%R$,I.-1%+'.),'1%!2$4,-.(#%-(%1($#?%?.'I/%between 6 to 14 years of age, from marginalized communities across India, thereby empowering and mobilizing them to become active change agents in their community by helping change society around them.

e3BJ%Q.).-!2%a.'I/%S2$4,-.(#%B'(Z!4-F%0,/%M!!#%(+!',-.(#,I% /.#4!%f,#$,'1%8965%;0!'!%1($'%E()+,#1%+'(".2!/%?',#-T.#T,.2% -(% HH3BPEA%&('%-0!%-!,40.#?%/40((I/%VeI!,'#.#?%4!#-!'/FW=%A0./%?',#-%4("!'/%!D+!#/!/%(&%-0!%B'(Z!4-%/$40%,/%-!,40!'/F%/,I,'.!/7%/-,G%/,I,'.!/7%-',.#.#?7%-!,40.#?%,#2%I!,'#.#?%),-!'.,I/7%)(#.-('.#?7%-',"!I%,#2%),#,?!)!#-%!D+!#/!/=

A0!%+'(Z!4-%,.)/% -(%+'(".2!%!R$,I%(++('-$#.-.!/7%;.-0% '!?,'2% -(%!2$4,-.(#% -(%?.'I/=%c1%!/-,MI./0.#?%,%)!40,#./)%(&% I!,'#.#?%;.-0.#% -0!%villages, through these learning centers established right inside the villages where the girls live, and by using comprehensive and innovative /-',-!?.!/%-(%2!I."!'%I!,'#.#?%-(%-0!/!%40.I2'!#%,#2%!R$.++.#?%-0!)%;.-0%I.-!',41%,#2%(-0!'%I.&!%/L.II/7%-0!/!%?.'I/%;.II%M!%,MI!%-(%4()+I!-!%-0!.'%education and develop into productively contributing citizens of the country.

H#.-.,II17%89%".II,?!/%(&%N!0',2$#7%U--,',L0,#2%;!'!% .2!#-.C!2%&('%-0!%B'(Z!4-=% %\.-0%!G!4-%&'()%f,#$,'1%896:7%;.-0%-0!%/$++('-%(&%1($'%E()+,#17%HH3BPEA%,22!2%89%)('!%I!,'#.#?%4!#-!'/=%A0!/!%,22.-.(#,I%I!,'#.#?%4!#-!'/%,'!%I(4,-!2%.#%".II,?!/%(&%N!0',2$#7%U--,',L0,#27%Mewat, Haryana and Bundi, Rajasthan.

]($'%E()+,#1%0,/%4(#-'.M$-!2% /=%6@=@9%I,L0/%-(;,'2/%-0!%B'(Z!4-%2$'.#?%8965T6:%V+'!".($/%1!,'% /=%<=:9%I,L0/%;,/%4(#-'.M$-!2W=%

AcknowledgmentsA0!%E()+,#1%./%2!+!#2!#-%&('%.-/%/$44!//%(#%-0!%/$++('-%(&%.-/%)!)M!'/7%.-/%4$/-()!'/7%.-/%"!#2('/7%M,#L!'/%,#2%,M("!%,II%.-/%),#,?!)!#-%,#2%/-,G%,#2%-0!%N.'!4-('/%;./0%-(%+I,4!%(#%'!4('2%-0!.'%2!!+%,++'!4.,-.(#%(&%-0./%support during the year.

For and on behalf of the Board of Directors

Mumbai Nishith Arora 3,1%887%896:% E0,.'),#%b%3,#,?.#?%N.'!4-('

FORM B

6=% %J+!4.C4%,'!,/%.#%;0.40% %b%N%;,/%4,''.!2%($-%M1%-0!%E()+,#1

g Development of cloud based digital publishing platform for performing various functions such as

g E(+1%!2.-.#?7%

g P$-0('%'!".!;%,#2%4(''!4-.(#/

g P$-(%4()+(/.-.(#

g E(#-!#-%-',#/&('),-.(#%b%!#'.40)!#-

g E(#-!#-%0(/-.#?%,#2%2./-'.M$-.(#

g N!"!I(+)!#-%,#2%&$'-0!'%4$/-().K,-.(#%(&%f($'#,I%-',4L.#?%J1/-!)%V3BJA',LW%&('%publishers

g Development of manuscript submission (MPSManuscript) and peer review system for f($'#,I%+$MI./0!'/

g A0!%E()+,#1%4(#-.#$!2%.-/%!G('-%-(;,'2/%2!"!I(+)!#-%(&%-0!%&(II(;.#?_

h P2",#4!2%!2.-.#?%,#2%i3Q%?!#!',-.(#%-((I/

h P2",#4!2%?',+0.4/%,$-(),-.(#%-((I/

h P2",#4!2%/!'"!'%M,/!2%,$-(%4()+(/.-.(#%/1/-!)/

h H)+I!)!#-,-.(#%(&%;('L^(;/j+'(4!//!/%;.-0%)('!%,$-(),-.(#

!"#$%&'()*%&)+),*-)

(contd.)

Page_16-19_Report_board_directors.indd 18Page_16-19_Report_board_directors.indd 18Page_16-19_Report_board_directors.indd 18Page_16-19_Report_board_directors.indd 18Page_16-19_Report_board_directors.indd 18Page_16-19_Report_board_directors.indd 18Page_16-19_Report_board_directors.indd 18 05/07/14 5:32 PM05/07/14 5:32 PM05/07/14 5:32 PM05/07/14 5:32 PM05/07/14 5:32 PM05/07/14 5:32 PM05/07/14 5:32 PM05/07/14 5:32 PM

19

./ 0*1*2,)&%*345*%&63#-&,7*&('#5*&8&9&: ; Improved competitive positioning

; !#1)#"4%(,4#1&#6&<=&3*)#$3>*)

; ?@,4-4A*%&'(1%B4%,7&$)(C*&9&-(1(C*-*1,

; Improved business continuity at optimized cost

; :(,(&)*>$34,+&(1%&@3#,*>,4#1&6#3&*D,*31("&,73*(,)

; <-@3#5*%&>#--$14>(,4#1&),(1%(3%)&(1%&>#),&*E>4*1>+

; <-@3#5*-*1,&41&F$("4,+&(1%&>#1)4),*1>+&#6&)*354>*&%*"45*34*)

; Improved productivity

3. Future plan of action ; Deployment of more systems and tools on cloud

; Development of a SaaS based service (MediaSuite) for media enriched eBooks

; GE>4*1>+&(1%&#@,4-4A(,4#1&#6&@$'"4)741C&-(1(C*-*1,&)*354>*)

; Further improvement in business continuity and disaster recovery plan

; !*1,3("4A(,4#1&#6&H*+&@3#>*))*)&6#3&>#),&*E>4*1>+&

; Improved process automation resulting in increased productivity

I/ GD@*1%4,$3*&#1&8&9&:&3*)$", J#&(-#$1,&B()&)@*1,&41&89:&

Technology absorption, adaptation and innovation.

GK#3,)&41&'34*6&-(%*&,#B(3%)&,*>71#"#C+&absorption, adaptation and innovation.

; Development and implementation of innovative cloud based systems for end-to-end publishing services

; L%#@,4#1&#6&M!<N:OO&),(1%(3%)&#6&)*>$34,+

; <-@"*-*1,(,4#1&#6&<=<P&@3#>*))&63(-*&B#3H&(1%&<O&.QRRS

0*1*2,)&%*345*%&63#-&,7*&('#5* ; <-@3#5*%&>$),#-*3&41,*3*),)&(1%&())#>4(,*%&)*354>*T,*>71#"#C+&3*F$*),)&63#-&5(34#$)&customers

; O,(1%(3%4A(,4#1&#6&-*()$3*-*1,&,*>714F$*)&(1%&416#3-(,4#1&U#B)

; L'4"4,+&,#&@3#%$>*&(1%&%*"45*3&"(3C*3&5("$*&(,&*D4),41C&3*)#$3>*&"*5*"

Imported Technology No technologies were imported

<16#3-(,4#1&()&@*3&O*>,4#1&.SQ&#6&,7*&!#-@(14*)&L>,&SVWXY&3*(%&B4,7&,7*&!#-@(14*)&ZM(3,4>$"(3)&#6&G-@"#+**)[&8$"*)Y&SVQW&Z()&(-*1%*%&to date) and forming part of Directors Report for the year ended March 31, 2014.

Name

Designation, Nature of

Duties AgeRemuneration

(Rs. lacs) !"#$%&"'$()

Total Working

Experience

Date of commencement of employment

Last employment held before joining the company

(duration in years)

Nishith Arora

!7(43-(1&9&Managing Director 56 157.79Director 56 157.79

BA (Hons in Economics), MBA

(IIM – Ahmedabad) 34 April 19, 2012(IIM – Ahmedabad) 34 April 19, 2012Managing Director, ADI BPO

O*354>*)&P4-4,*%

Rahul Arora

!74*6&$3H*,41C&?E>*3&9&]7#"*&Time Director 29Time Director 29 48.98

BS, PGDBM (Indian School of

Business) 7 August 6, 2012 Gallup Inc

Notes:a. Employment is contractual.

b. Remuneration includes salary, allowances, commission/bonus, medical reimbursement, leave travel assistance, contribution to @3#54%*1,&6$1%Y&)$@*3(11$(,4#1&6$1%&ZB7*3*&(@@"4>('"*[&(1%&C3(,$4,+&6$1%)&(1%&#,7*3&@*3F$4)4,*)Y&B74>7&7(5*&'**1&*5("$(,*%&()&@*3&,7*&<1>#-*&=(D&3$"*)&41&6#3>*&(1%&@3#54)4#1&6#3&@*36#3-(1>*&"41H*%&'#1$)&(1%&6*),45("&'#1$)

>/ J#1*&#6& ,7*& *-@"#+**)&(3*& 3*"(,*%& ,#& (1+& #6& ,7*&:43*>,#3)& *D>*@,&\3/& 8(7$"& L3#3(Y& !74*6&\(3H*,41C&?E>*3&9&]7#"*& ,4-*&:43*>,#3Y&B7#& 4)& ,7*&)#1&#6&\3/&J4)74,7&L3#3(Y&!7(43-(1&9&\(1(C41C&:43*>,#3&(1%&$/&^(-414&=(1%#1Y&B7#& 4)& ,7*&B46*&#6&\3/&8(7$"&L3#3(&(1%&daughter-in-law of Mr. Nishith Arora.

By order of the Board

Nishith Arora !7(43-(1&9&\(1(C41C&:43*>,#3

Disclosure of Particulars with Respect to Technology Absorption, Research & Development (contd.) :



MANAGEMENT DISCUSSION & ANALYSIS

(A) INDUSTRY STRUCTURE AND BUSINESS DEVELOPMENT

(This section of the report draws upon market intelligence data released by reputed market survey agencies like Outsell and industry organizations like IDPF)

As per industry estimates, the global publishing industry is an over USD 400 billion market with a growing digital segment. Traditionally, it has been dominated by a few large players but due to ease of market and lack of entry barriers, the market is fragmented with mix of large players and small companies. The publishing market is a stable market with ~2-3% growth p.a. even in recessionary times.

Publishing Market Breakdown (FY 2012)

The global publishing industry is an over $400 billion market with a growing digital segment.

Total marketSize: $413.3 bn

PrintSize: $379.7 bn

DigitalSize: $33.6 bn

14.5%

25.7% 24.3%

40.9%

24.5%

13.5%

21.1%

45.0%

26.2%

39.6%19.8%

4.9%

Newspaper B2B Consumer magazine Consumer & educational

Top 20 Book Publishers by Revenue (FY 2012)

Pearson

Reed Elsevier

Thomson Reuters

Wolters Kluwer

Random House

Hachette Livre

Grupo Planeta

McGraw-Hill1

Holtzbrinck

Scholastic

Cengage

Wiley

De Agostini Editore

Shueisha

Kodansha

Springer

HMH

Shogakukan

Harper Collins

9,158

5,934

5,386

4,766

3,328

2,833

2,597

2,220

2,148

1,993

1,783

1,724

1,464

1,368

1,298

1,286

1,254

1,189Note: (1) FY 2011 revenues for McGraw-Hill

2,292

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21

With the rapidly changing publishing industry, publishers are leveraging on technology across the entire value chain from content production to distribution to reduce costs and time. New technological changes will require companies to shift from pure services to technology services to meet the growing demand of publishers.

In recent times, relationships have changed between publishers and service providers from being a client-vendor to more of a strategic relationship. Publishers treat their relationship with companies like MPS as strategic and expect a deep involvement from the company while consolidating the number of suppliers they work with. MPS Limited in turn has been leveraging its platform-based approach while providing ready to market solutions to publishers for faster time to market and to help manage content across multiple platforms and devices.

Geography-wise, USA and UK continue to be the MPS Limited’s biggest markets and the company’s marketing strategy is to build on relationships with customers. MPS Limited participates in several trade shows and conferences across the globe to increase its global footprint and raise its brand awareness through advertisements in trade magazines and presentations at various trade shows.

Mobiles and tablets continue to become faster and smarter with device makers releasing new devices frequently. This has accelerated the growth of the mobile applications market. MPS Limited has a vast technological capability in this sphere and can create mobile applications for all popular platforms and devices.

Overall, MPS Limited provides end to end print and digital publishing solutions to its partners across the entire value chain from content production, enhancement and transformation to delivery and customer support, making it a trusted partner to the biggest publishers in the world.

(B) OPPORTUNITIES AND THREATS

While there are ample opportunities in this industry, there are also factors that could impede growth.

Opportunities

MPS Limited has developed an end-to-end cloud-based publishing platform, MPS DigiCore, which addresses the need for an integrated !"#$! %&'(&%)*+,-.'/".%'(0/%.&("&/1%&!%(.#%2!"3%4.%.*5'6%789%:-;-&/1%'(.%(%<".&=;!0/"%(10(>&(?/%->%/@),!-&->?%&'/%;("#/&%(>1%/.&(+,-.'->?%itself as the premier technology solutions provider for publishers. The same market forces have also created immense opportunities for MPS DigiTrak, the production tracking system developed by MPS Limited and MPS DigiComp, Automated Composition. Similar other solutions are being developed at MPS Limited as R&D continues based on the market requirements.

Opportunities for digitization, interactivity and mobile applications continue to grow in the market and this trend will continue for some time due to the fast changing digital landscape. MPS Limited has maintained its position as market leader in providing EPUB3 and HTML5 services and clients have been increasingly asking for these services. The opportunities provided by HTML5 in creating native apps for multiple platforms are being harvested by the company. The digital publishing market is also increasing the demand for aggregation, indexing, semantic, and analytics services. MPS Limited has a great growth potential in these areas and these opportunities have become more lucrative than previous years to the growth in the market.

Threats

The Company’s operations are completely dependent on the smooth functioning of its hardware and software. Proper IT security systems and procedures have been implemented throughout the company but a virus attack or a rapid change in technology could have an (10/"./%/A/5&%!>%&'/%+*.->/..3%B*/%&!%&'-.%&'/%5!;)(>C%->0/.&.%'/(0-,C%->%>/ %(>1%*)1(&/1%&/5'>!,!?C%(>1%->2"(.&"*5&*"/%/(5'%C/("3%

D'(>?/.%->%5!>.*;/"%)"/2/"/>5/.%)!./%(>%->1-"/5&%&'"/(&%(.%&'/%0!,*;/%!2%)*+,-.'/".E%1/;(>1%2!"%!*"%./"0-5/.%5(>%+/%(A/5&/13

(C) RISKS AND CONCERNS

The risks and concerns envisaged and their mitigation continue to be:

F G/?*,(&!"C%G-.#.H%I'/%5'(>?/.%->%&(@%,( .6%?!0/">;/>&%)!,-5-/.%(>1%"/?*,(&!"C%"/J*-"/;/>&.%;-?'&%(A/5&%D!;)(>C%+*.->/..3

F B-.(.&/"%(>1%./5*"-&C%"-.#H%I'-.%-.%(%;(K!"%5!>5/">%2!"%(,,%LIMLIN9%5!;)(>-/.3%I'-.%-.%+/->?%;-&-?(&/1%+C%-1/>&-2C->?%(>1%*.->?%(,&/">(&-0/%sites for data storage and protection.

F I/5'>!,!?-5(,% "-.#H%41!)&-!>%!2%>/ /"% &/5'>!,!?-/.%+C%5,-/>&.% -.%/@)/5&/1% &!% 2!"5/%./"0-5/%)"!0-1/".% &!%(1!)&%>/ /"% &/5'>!,!?C%->0!,0->?%.*+.&(>&-(,% ->0/.&;/>&.% ->% !"#$! %(>1%;(>)! /"%;(>(?/;/>&3%O! /0/"%(1!)&-!>%!2%>/ %&/5'>!,!?C%),(&2!";.%+C%clients is quite limited which helps to mitigate the risks.

F D*""/>5C%"-.#H%D*""/>5C%$*5&*(&-!>%?/>/"(,,C%"/;(->.%(%+-?%"-.#3%I'-.%"-.#%-.%;-&-?(&/1%&!%(%5/"&(->%/@&/>&%+C%&(#->?%(1/J*(&/%2!"/-?>%exchange forward cover.

F L>1*.&"C% "-.#H% 4.% &'/%D!;)(>C% -.% 1/)/>1/>&%!>%!0/"./(.%)*+,-.'/".P% (>C%1! >&*">% ->%(% 5*.&!;/"E.% +*.->/..%!"% ->% &'/% ->1*.&"C%generally in any country where the Company does business, could have an impact. The Company is trying to mitigate such risk by &'/%1-0/".-<5(&-!>%!2%+*.->/..%(>1%5*.&!;/"%+(./3%%

F D*.&!;/"%5!>5/>&"(&-!>% "-.#H% I'/%D!;)(>C%1/)/>1.%!>%(% "/,(&-0/,C%.;(,,%>*;+/"%!2%#/C%!0/"./(.%)*+,-.'/".3% I'-.% "-.#% -.%+/->?%mitigated by expanding the customer base.

F D!;)/&-&-!>%"-.#H%Q-&'%&'/%->5"/(.->?%(0(-,(+-,-&C%!2%/J*-);/>&6%)"!5/..->?%#>! ,/1?/6%(>1%,! %5!.&%5!;;!1-&-R(&-!>6%&'/%+(""-/".%&!%/>&"C%->&!%&C)/./&&->?%(>1%!&'/"%,! =/>1%./"0-5/.%'(0/%/(./1%.-?>-<5(>&,C3%I'-.%"-.#%-.%+/->?%;-&-?(&/1%&'"!*?'%*)1(&-!>%!2% !"#$! %technology and increased automation.

F 8"-5->?%"-.#H%8"-5->?%)"/..*"/%-.%(%+-?%(>1%5!>.&(>&%"-.#%1*/%&!%->5"/(./1%5!;)/&-&-!>3%L&%-.%&'/%D!;)(>CE.%/>1/(0!"%&!%"/1*5/%&'/%impact of pricing pressures by increasing productivity, ramping up volumes, and moving up the value chain.

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(D) SEGMENT-WISE AND PRODUCT-WISE PERFORMANCE

notes on accounts).

(E) OUTLOOK

The publishing industry is settling down into the new market dynamics after the rapid changes of the last couple of years. Technology is playing a big role in publishing now as content becomes better organized as well as liberated. The Company’s increased focus on !"!#$%&'()*&(*+!' ),' ) -./,.!(&0) .!0*'$#$(1) -$#2.&$'-) -%!,3),4$2.) .*!)5$6%,'17-) !' !,"$/) .$)4!),*!, )$8) 0$6%!.&.&$'9):$/3;$<)management solutions and end-to-end services are the emerging requirements of the market and MPS Limited is well poised to take advantage of this since publishers prefer to work with a smaller base of strategic partners like MPS Limited.

(F) INTERNAL CONTROL SYSTEMS

=*!)5$6%,'1)*,-)<!##) $026!'.! )%$#&01)(2& !#&'!->) !?'! ),2.*$/&.1) #!"!#->),' ),')!@*,2-.&"!)42 (!.,/1)0$'./$#) -1-.!6).$)!'-2/!)adequate internal check and control levels. The Company has implemented SAP, an ERP System, to have adequate internal control.

The Company appointed Grant Thornton as the Internal Auditors for the Financial Year 2013-14. The Internal Audit function ensures that the system of recording and reporting, internal controls and checks, safeguarding and protection of assets in time are adequate and proper that are mandated by the Audit Committee. The Internal Auditor reports to the Audit Committee.

=*!)A,',(!6!'.),-)<!##),-).*!)B2 &.)5$66&..!!)$8).*!)C$,/ )/!"&!<).*!)?' &'(-),' )/!0$66!' ,.&$'-)$8).*!)&'.!/',#),2 &.).!,6),' )review periodically the adequacy of internal control, internal audit, and the management control systems, so as to be in line with changing requirements.

(G) DISCUSSION OF FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL

PERFORMANCE

F$<!"!/>) 2!).$)&6%#!6!'.,.&$')$8)0$-.)/,.&$',#&G,.&$')&'&.&,.&"!->).*!)?','0&,#)%!/8$/6,'0!)$8).*!)5$6%,'1)8$/).*!)1!,/)!' ! )HI-.)A,/0*)JKIL)",-.#1)&6%/$"! ),-)0$6%,/! ).$).*!)#,-.)?','0&,#)%!/&$ 9)=*!)MNO)$8).*!)5$6%,'1)8$/).*!)1!,/)!' &'()A,/0*)HI>)JKIL)<,-)P-9)JQ9RJ),-)0$6%,/! ).$),')MNO)$8)P-)IR9ST)8$/).*!)%/!"&$2-)1!,/)!' ! )A,/0*)HI>)JKIH9)=*!)5$6%,'1)<,-),4#!).$)6!!.),##)&.-)0,%&.,#)!@%!' &.2/!)and working capital requirements through internally generated funds while paying out an enhanced dividend to its members.

(H) MATERIAL DEVELOPMENTS IN THE HUMAN RESOURCES/INDUSTRIAL RELATIONS

FRONT INCLUDING THE NUMBER OF PEOPLE EMPLOYED

0$6%!.!'01)#!"!#)$8).*!)!6%#$1!!-9)=*!)5$6%,'1)*, )J>QHQ)!6%#$1!!-),-)$8)HI-.)A,/0*>)JKIL9

Cautionary Statement

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

The section on the Industry structure and business development is drawn from report on market intelligence data released by reputed market survey agencies like Outsell and industry organizations like IDPF.

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23

CORPORATE GOVERNANCE REPORT

1. THE COMPANY’S GOVERNANCE PHILOSOPHY

Corporate Governance refers to a combination of laws, regulations, procedures, implicit rules and voluntary practices that enable companies !"#$%&!%'"$()*$+ ,-"."$/$) *0$,-"1+2" 3$%$4-"'15*'*6$" ,!+7" $%'"01,8$"&!%" 3$"9$'4$%:;"<3*,$"$+:8%*+7"&1*%+$::" !"1,,": 1=$3!,2$%:>""The Company has been practicing the principle of good corporate governance since its inception, not merely on account of regulatory %$?8*%$'$+ :"48 "1:":!8+2"'1+17$'$+ "#%1) *)$"&!%"$+31+)*+7")8: !'$%":1 *:&1) *!+"1+2"01,8$"&!%" 3$"9$'4$%:>""@3$"A!'#1+-")!+B%':"compliance of all the Secretarial Standards issued by the Institute of Company Secretaries of India as applicable, regarding the meetings of 3$"C!1%2"!&"D*%$) !%:;"E$+$%1,"9$$ *+7:;"'1*+ $+1+)$"!&"F$7*: $%:"1+2"F$)!%2:>

The Company’s philosophy on Corporate Governance enshrines the goal of achieving the highest levels of transparency, accountability and $?8* -"*+"1,,":#3$%$:"!&"* :"!#$%1 *!+:"1+2"*+"1,,"* :"2$1,*+7:"<* 3" 3$"9$'4$%:;"$'#,!-$$:;"E!0$%+'$+ "1+2"! 3$%"#1% *$:>

2. BOARD OF DIRECTORS

Composition of the Board

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

I!+$"!&" 3$"D*%$) !%:"!+" 3$"C!1%2" *:"1"9$'4$%"!&"'!%$" 31+"QR"A!''* $$:"!%"A31*%'1+"!&"'!%$" 31+"S"A!''* $$:"1)%!::"1,," 3$")!'#1+*$:"*+"<3*)3"3$"*:"1"D*%$) !%>

@3$"K+2$#$+2$+ "2*%$) !%:"310$")!+B%'$2" 31 " 3$-":1 *:&-" 3$"T)%* $%*1"!&"*+2$#$+2$+)$U"1:": *#8,1 $2"*+"A,18:$"LM"!&" 3$"N*: *+7"O7%$$'$+ >

The composition of the Board is as under:

Name of the Director & Designation Category

No. of Directorships and Committee Memberships (including this Company)

Directorships Committee Memberships

As Chairman As Member As Chairman As Member

Nishith Arora,A31*%'1+"."91+17*+7"D*%$) !%

G5$)8 *0$."V%!'! $%

Q Q Nil 2

D"G"W2<12*1Vice Chairman

Independent I!+JG5$)8 *0$

Q QR Q 7

Ashish Dalal Independent I!+JG5$)8 *0$

Nil Q Q Q

X*P1-"Y!!2 IndependentI!+JG5$)8 *0$

Nil L Q 2

F138,"O%!%1"Z<* 3"$/$) "&%!'"O878: "Q[;"[RQ\]

G5$)8 *0$ Nil 2 Nil Nil

I! $^"G5),82$:"D*%$) !%:3*#:"*+"V%*01 $"N*'* $2"1+2"&!%$*7+")!'#1+*$:>

@3$"'$$ *+7:"!&" 3$"C!1%2"1%$"7!0$%+$2"4-"1": %8) 8%$2"17$+21>"O,,"'1P!%"17$+21"* $':"1%$"41)=$2"4-"41)=7%!8+2"*+&!%'1 *!+" !"$+14,$" 3$"C!1%2" !" 1=$"*+&!%'$2"2$)*:*!+:>"@3$"C!1%2"1,:!"%$0*$<:"1 "$1)3"!&"* :"'$$ *+7:" 3$"*+&!%'1 *!+" !"4$" 14,$2"8+2$%"O++$58%$"QO" !"A,18:$"LM"!&" 3$"N*: *+7"O7%$$'$+ :"<* 3" 3$"Y !)="G5)31+7$:>

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3. DIRECTORS’ INTEREST IN THE COMPANY

Director

Relation with other Director

Business Relationship with the

Company, if any

Loans & Advances Received from the Company

Remuneration During the year ended March 31, 2014 !""#$%&'()#*+#,&-(()#"./)0

Sitting Fees

Salary Perks & Commission

Commission (Paid during the year and pertains to

previous year) Total

Nishith Arora ** Father of Nishith Arora ** Father of Nishith Arora ** Father of Nishith Arora ** Father of 9%>"F138,"Arora

V%!'! $%"."D*%$) !%"of holding company ODK"CV`"Y$%0*)$:"N*'* $2aaa

Nil NilNil Nil QSb>bMa Nil QSb>bM

D"G"W2<12*1 Nil **** Nil [>c Nil QL>R[ Qc>c[QL>R[ Qc>c[

Ashish Dalal NilAshish Dalal NilAshish Dalal NilAshish Dalal Nil Nil Nil [>L Nil QL>R[ Qc>L[QL>R[ Qc>L[

X*P1-"Y!!2 Nil Nil Nil [>c Nil QL>R[ Qc>c[QL>R[ Qc>c[

F138,"O%!%1"aaaaa Son of 9%>"I*:3* 3"Arora

Director of holding )!'#1+-"ODK"CV`"Y$%0*)$:"N*'* $2aaa

Nil NilNil Nil Ld>Md Nil Ld>Md

aF$'8+$%1 *!+" !"9%>"I*:3* 3"O%!%1" *+),82$:"1+"1'!8+ "!&"F:>"d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

aa"@3$")!+ %1) "!&"9%>"I*:3* 3"O%!%1"1:"91+17*+7"D*%$) !%"*:"&!%"\"Z 3%$$]"-$1%:"$/$) *0$"&%!'"O#%*,"QM;"[RQ[>"@3$")!+ %1) "*:" $%'*+14,$"4-"c"Z:*5]"'!+ 3:U"+! *)$"4-"$* 3$%":*2$"!%"#1-'$+ "*+",*$8" 3$%$!&>

aaaD8%*+7" 3$"-$1%"$+2$2"91%)3"\Q;"[RQL;" 3$"A!'#1+-"#1*2"F:>"[bS>d["N1):" !"ODK"CV`"Y$%0*)$:"N*'* $2;" 3$"#%!'! $%"A!'#1+-"!&" 3$"A!'#1+-"*+"<3*)3"9%>"I*:3* 3"O%!%1"*:"1"D*%$) !%>"@3$"14!0$"1'!8+ ")!+:*: :"!&"F$+ "&!%"D$3%128+"&1)*,* -" 1=$+"!+",$1:$>"@3$"A!'#1+-"1,:!"1)?8*%$2"28%*+7" 3$"-$1%;")!'#8 $%:"1+2"! 3$%"1::$ :"&%!'"ODK"CV`"Y$%0*)$:"N*'* $2"&!%"1'!8+ :"177%$71 *+7" !"F:>"LR>LQ"N1):>"K+"122* *!+" !" 3$"14!0$;" 3$"A!'#1+-"31:"#%!0*2$2"&!%"%$*'48%:$'$+ "!&"F:>"c>Rd",1):" !"ODK"CV`"Y$%0*)$:"N*'* $2"&!%" 3$"1::*7+'$+ "!&"e$-"91+"K+:8%1+)$"V!,*)-"!&"9%>"I*:3* 3"O%!%1>

aaaaD8%*+7" 3$"-$1%"$+2$2"91%)3"\Q;"[RQL;" 3$"A!'#1+-"#1*2"F:>"R>[["N1):" !" 3$",1<"B%'"9f:"W2<12*1;"W2$:3*"."O%78:"V1% +$%:"1:"&$$:"&!%"#%!&$::*!+1,":$%0*)$:" 31 "<$%$"#%!0*2$2"4-" 3$'"!+":#$)*B)",$71,"'1 $%:"$+ %8: $2"4-" 3$"A!'#1+-" !" 3$'"&!%",$71,"120*)$"&%!'" *'$" !" *'$>"9%>"D"G"W2<12*1"*:"1"&!8+2$%"#1% +$%"!&" 3$"14!0$"B%'>"@3$"C!1%2"2!$:"+! ")!+:*2$%" 3$"B%'U:"1::!)*1 *!+"<* 3" 3$"A!'#1+-" !"4$"!&"1"'1 $%*1,"+1 8%$":!"1:" !"1/$) " 3$"*+2$#$+2$+)$"!&"P827'$+ "!&"9%>"W2<12*1"1:"1"D*%$) !%"!&" 3$"A!'#1+->

aaaaa"*+),82$:"F:>"R>\M"N1):"1:"O++81,"C!+8:"1+2":1,1%-"#1*2"Z*+"WYD"&%!'"O878: "Q[;"[RQ\" !"g1+81%-"\Q;"[RQL"1+2"*+"KIF"&%!'"h$4%81%-"Q;"[RQL" *,,"91%)3"\Q;"[RQL]"1:"A3*$&"91%=$ *+7"`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

I!+JG5$)8 *0$"D*%$) !%:"Y31%$3!,2*+7"1:"!+"91%)3"\Q;"[RQL

Name of the Director No. of Shares held

Q>""9%>"D"G"W2<12*1 Nil

[>""9%>"O:3*:3"D1,1, Nil

\>""9%>"X*P1-"Y!!2 M;b\Q

Attendance Record of the Directors

Director

No. of Meetings Attended last AGM on August 5, 2013

in ChennaiHeld Attended

Nishith Arora c c Yes

D"G"W2<12*1 c c Yes

Ashish Dalal c c Yes

X*P1-"Y!!2 c c Yes

F138,"O%!%1"Z<* 3"$/$) "&%!'"O878: "Q[;"[RQ\] cF138,"O%!%1"Z<* 3"$/$) "&%!'"O878: "Q[;"[RQ\] c 2 Not Applicable

Page_23-32_Corporate_governance_report.indd 24Page_23-32_Corporate_governance_report.indd 24Page_23-32_Corporate_governance_report.indd 24Page_23-32_Corporate_governance_report.indd 24Page_23-32_Corporate_governance_report.indd 24Page_23-32_Corporate_governance_report.indd 24Page_23-32_Corporate_governance_report.indd 24Page_23-32_Corporate_governance_report.indd 24Page_23-32_Corporate_governance_report.indd 24Page_23-32_Corporate_governance_report.indd 24Page_23-32_Corporate_governance_report.indd 24 05/07/14 5:19 PM05/07/14 5:19 PM05/07/14 5:19 PM05/07/14 5:19 PM05/07/14 5:19 PM05/07/14 5:19 PM05/07/14 5:19 PM05/07/14 5:19 PM

25

Dates of Board Meetings

!"#$%&'(#%)#*+'",-%'.#/"-#0#-+/".#(1'+23#-!"#42&2,+&5#6"&'#789:;9<=# !"#/&>+/1/#3&?#@"-A""2#&26#-A%#/""-+23.#A&.#5"..#-!&2#<#/%2-!.#&.#.-+?15&-"(#12("'#B5&1."#<C#%)#-!"#D+.-+23#E3'""/"2-=

Date of Board Meeting Place/City No. of Directors Present

E?'+5#CF#789: G1/@&+ <

G&6#7HF#789: G1/@&+ <

E131.-#IF#789: B!"22&+ <

E131.-#97F#789: $"23&51'1 <

J%K"/@"'#9:F#789: Gurgaon I

L"@'1&'6#9<F##789< "!'+F#M'+.!+N".! I

4. AUDIT COMMITTEE

!"#?%A"'F#'%5"#&2(#-"'/.#%)#'")"'"2,"#("5"3&-"(#-%#-!"#E1(+-#B%//+--""#&'"#&.#/&2(&-"(#12("'#B5&1."#<C#%)#-!"#D+.-+23#E3'""/"2-.#A+-!#-!"#O-%,N#P>,!&23".=# !"#E1(+-#B%//+--""#&5.%#?'%K+(".#&..1'&2,"#-%#-!"#$%&'(#%2#-!"#&("Q1&,6#%)#-!"#+2-"'2&5#,%2-'%5#.6.-"/.#&2(#42&2,+&5#(+.,5%.1'".=

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

Dates of Audit Committee Meetings

Date of Audit Committee Meeting Place/City No. of Members Present

G&6#7HF#789: G1/@&+ :

E131.-#IF#789: B!"22&+ :

J%K"/@"'#9:F#789: Gurgaon 7

L"@'1&'6#9<F##789< "!'+F#M'+.!+N".! :

Attendance Record of the Audit Committee Members

Audit Committee Member

No. of Meetings

Held Attended

G'=#E.!+.!#*&5&5F#B!&+'/&2#S1?#-%#J%K"/@"'#97F#789:R

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G'=#J+.!+-!#E'%'&#SA+-!#"X",-#)'%/#L"@'1&'6#9<F#789<R

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5. SHAREHOLDERS/INVESTORS GRIEVANCE COMMITTEE

!"#O!&'"!%5("'.Z[2K".-%'.#Y'+"K&2,"#B%//+--""#?'"."2-56#,%2.+.-.#%)#G'=#E.!+.!#*&5&5#&.#B!&+'/&2#&2(#G'=#J+.!+-!#E'%'&#&.#G"/@"'=# !"#B%//+--""#5%%N.#+2-%#'"('"..+23#%)#.!&'"!%5("'#&2(#+2K".-%'.#,%/?5&+2-.#5+N"#-'&2.)"'#%)#.!&'".F#2%2;'","+?-#%)#@&5&2,"#.!""-F#2%2;'","+?-#%)#(",5&'"(#(+K+("2(#&2(#'"5&-"(#/&--"'.=

!"#B%/?&26#O",'"-&'6#G'=#O1?'+6&#\1/&'#Y1!&#&,-.#&.#O",'"-&'6#-%#-!"#B%//+--""#&2(#A&.#&5.%#&??%+2-"(#&.#-!"#B%/?5+&2,"#%],"'=# !"'"#A&.#%2"#/""-+23#%2#J%K"/@"'# 9:F# 789:#%)# -!"# O!&'"!%5("'.Z[2K".-%'.#Y'+"K&2,"#B%//+--""#(1'+23# -!"# 6"&'# 12("'# '"K+"A=#E55#,%/?5&+2-.#'","+K"(#S-%-&5#21/@"'#;#7#,%/?5&+2-.R#)'%/#/"/@"'.#(1'+23#-!"#?"'+%(#A"'"#)1556#'".%5K"(#@6#-!"#'"3+.-'&'.#&2(#-!"'"#&'"#2%#?"2(+23#,%/?5&+2-.=



6. REMUNERATION COMMITTEE

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

7. CODE OF CONDUCT

!"#-,%2)':#!)0#2,0*"/#*!"#-,/"#,3#-,'/&.*#3,(#6+(".*,(0#)'/#B"'+,(#4)')5"%"'*#,'#+*0#="I0+*"9##?#/".8)()*+,'#,3#-,/"#,3#-,'/&.*#3(,%#*!"#4)')5+'5#6+(".*,(#)O(%+'5#*!"#.,%28+)'."#,3#1,)(/#,3#6+(".*,(0#+0#"'.8,0"/#)'/#3,(%0#)#2)(*#,3#*!+0#("2,(*9#?88#*!"#0"'+,(#%)')5"(0#!)M"#.,'P(%"/#.,%28+)'."#,3#*!"#-,/"#,3#-,'/&.*9

8. DISCLOSURES

Q+R !"#0*)*&*,(:#/+0.8,0&("#("N&+("%"'*0#&'/"(#?..,&'*+'5#B*)'/)(/#FS#("8)*+'5#*,#("8)*"/#2)(*:#*()'0).*+,'0#!)M"#I""'#.,%28+"/#=+*!#+'#*!"#?''&)8#?..,&'*0#QT,*"#GER#*,#*!"#T,*"0#3,(%+'5#2)(*#,3#*!"#)..,&'*09# !"("#)("#',#%)*"(+)8#("8)*"/#2)(*:#*()'0).*+,'0#,3#*!"#-,%2)':#=!+.!#!)M"#2,*"'*+)8#.,'U+.*#=+*!#*!"#+'*"("0*#,3#*!"#-,%2)':#)*#8)(5"9

Q++R !"("#+0#',#*(")*%"'*#+'#*!"#2("2)()*+,'#,3#P')'.+)8#0*)*"%"'*0#*!)*#+0#/+V"("'*#3(,%#*!)*#2("0.(+I"/#+'#*!"#?..,&'*+'5#B*)'/)(/0#)0#',*+P"/#&'/"(#B".*+,'#CFF#QG-R#,3#*!"#-,%2)'+"0#?.*>#FWXY#QZ*!"#FWXY#?.*[R#Q=!+.!#.,'*+'&"0#*,#I"#)228+.)I8"#+'#("02".*#,3#B".*+,'#FGG#,3# *!"#-,%2)'+"0#?.*>#CEFG# QZ*!"#CEFG#?.*[R# +'# *"(%0#,3#\"'"()8#-+(.&8)(#FX]CEFG#/)*"/#FG#B"2*"%I"(>#CEFG#,3# *!"#4+'+0*(:#,3#-,(2,()*"#?V)+(0R#)'/#*!"#("8"M)'*#2(,M+0+,'0#,3#*!"#FWXY#?.*]CEFG#?.*>#)0#)228+.)I8"9

Q+++R 6"*)+80#,3#','^.,%28+)'."0#I:#*!"#-,%2)':>#2"')8*+"0#)'/#0*(+.*&("0#+%2,0"/#,'#*!"#-,%2)':#I:#*!"#B*,.L#;`.!)'5"0#,(#B;1a#,(#)':#0*)*&*,(:#)&*!,(+*:#,'#)':#%)**"(#("8)*"/#*,#.)2+*)8#%)(L"*0>#/&(+'5#*!"#8)0*#*!(""#:")(0#+9"9#CEFF^FC>#CEFC^FG#b#CEFG^FJ#c#T+89 !"#-,%2)':#!)0#)/,2*"/#)88#*!"#%)'/)*,(:#("N&+("%"'*0#&'/"(#-8)&0"#JW#,3#*!"#d+0*+'5#?5(""%"'*0#=+*!#B*,.L#;`.!)'5"0#)'/#3&8P88"/#*!"#3,88,=+'5#','^%)'/)*,(:#("N&+("%"'*0#)0#2("0.(+I"/#+'#?''"`&("#F#6#*,#-8)&0"#JW#e

Q)R !"#-,%2)':#!)0#0"*#&2#)#$"%&'"()*+,'#-,%%+**"">#/"*)+80#,3#=!+.!#!)M"#I""'#5+M"'#")(8+"(#+'#*!+0#("2,(*9

QIR# # !"#-,%2)':#!)0#)/,2*"/#)#7!+0*8"#18,="(#f,8+.:9#T,#2"(0,'#!)0#I""'#/"'+"/#).."00#*,#*!"#?&/+*#-,%%+**""9# !"#-,%2)':#)80,#!)0#)#B"`&)8#!)()00%"'*#2,8+.:9# !"#-,%2)':#!)0#"0*)I8+0!"/#*!"#'"."00)(:#%".!)'+0%#3,(#"%28,:""0#*,#("2,(*#*!"+(#.,'."('0#)I,&*#&'"*!+.)8#)'/#&'="8.,%"#I"!)M+,(9# !"#7!+0*8"#18,="(#f,8+.:#)'/#*!"#B"`&)8#g)()00%"'*#f,8+.:#)("#)M)+8)I8"#,'#*!"#+'*()'"*#0+*"#,3#*!"#-,%2)':9

Q+MR !"#4)')5"%"'*#6+0.&00+,'#)'/#?')8:0+0#("2,(*#+0#+'.8&/"/#0"2)()*"8:#+'#*!"#?''&)8#$"2,(*9

9. CEO & CFO CERTIFCATION

!"#-!)+(%)'#)'/#4)')5+'5#6+(".*,(#)'/#-Hh#,3#*!"#-,%2)':#!)M"#5+M"'#)''&)8#."(*+P.)*+,'#,'#P')'.+)8#("2,(*+'5#)'/#+'*"(')8#.,'*(,80#*,#*!"#1,)(/#+'#*"(%0#,3#-8)&0"#JW#,3#*!"#d+0*+'5#?5(""%"'*0#=+*!#*!"#B*,.L#;`.!)'5"09#-,2:#,3#*!"#0)%"#+0#"'.8,0"/#*,#*!+0#("2,(*9

10. SECRETARIAL AUDIT

?#N&)8+P"/#2().*+.+'5#-,%2)':#B".("*)(:#.)((+"/#,&*#$".,'.+8+)*+,'#,3#0!)("#.)2+*)8#)&/+*# *,# (".,'.+8"# *!"# *,*)8#)/%+**"/#"N&+*:#0!)("#.)2+*)8#=+*!#T)*+,')8#B".&(+*+"0#6"2,0+*,(:#d+%+*"/#QTB6dR#)'/#*!"#-"'*()8#6"2,0+*,(:#B"(M+."0#Qa'/+)R#d+%+*"/#Q-B6dR#)'/#*!"#*,*)8#+00&"/#)'/#8+0*"/#"N&+*:#0!)("#.)2+*)89# !"#0".("*)(+)8#)&/+*#("2,(*#.,'P(%0#*!)*#*!"#*,*)8#+00&"/]2)+/^&2#.)2+*)8#+0#+'#)5(""%"'*#=+*!#*!"#*,*)8#'&%I"(#,3#0!)("0# +'#2!:0+.)8# 3,(%#)'/#*!"#*,*)8#'&%I"(#,3#/"%)*"(+)8+i"/#0!)("0#!"8/#=+*!#TB6d#)'/#-6Bd9# !"0"#("2,(*0#)("#P8"/#=+*!#B*,.L#;`.!)'5"0#N&)(*"(8:9# !"#2().*+.+'5#-,%2)':#B".("*)(:#)80,#."(*+P"0#*!"#-,%28+)'."#."(*+P.)*"#*,#*!"#0*,.L#"`.!)'5"Q0R#+'#2&(0&)'."#,3#.8)&0"#JD-#,3#*!"#d+0*+'5#?5(""%"'*Q0R9

11. COMPLIANCE WITH CORPORATE GOVERNANCE NORMS

!"#-,%2)':#!)0#.,%28+"/#=+*!#*!"#%)'/)*,(:#("N&+("%"'*0#,3#*!"#-,/"#,3#-,(2,()*"#\,M"(')'."#)0#0*+2&8)*"/#+'#-8)&0"#JW#,3#*!"#d+0*+'5#?5(""%"'*#=+*!#*!"#B*,.L#;`.!)'5"09# !"#-,%2)':#!)0#0&I%+**"/#*!"#.,%28+)'."#("2,(*#+'#*!"#2("0.(+I"/#3,(%)*#*,#*!"#B*,.L#;`.!)'5"0#3,(#*!"#N&)(*"(0#"'/"/#j&'"#GE>#CEFG>#B"2*"%I"(#GE>#CEFG>#6"."%I"(#GF>#CEFG#)'/#4)(.!#GF>#CEFJ9

!"# B*)*&*,(:# ?&/+*,(0# !)M"# ."(*+P"/# *!)*# *!"# .,%2)':# !)0# .,%28+"/# =+*!# *!"# .,'/+*+,'0# ,3# .,(2,()*"# 5,M"(')'."# )0# 0*+2&8)*"/# +'#-8)&0"#JW#,3#*!"#d+0*+'5#?5(""%"'*0#=+*!#*!"#B*,.L#;`.!)'5"09# !"#0)+/#."(*+P.)*"#+0#)''"`"/#*,#*!+0#$"2,(*#)'/#=+88#I"#3,(=)(/"/#*,#*!"#B*,.L#;`.!)'5"0#)'/#*!"#$"5+0*()(#,3#-,%2)'+"0# )%+8#T)/&>#-!"'')+#)8,'5#=+*!#*!"#?''&)8#$"2,(*9#

12. SHAREHOLDERS INFORMATION

a. Date, time and location of the Annual General Meeting

6)*"e ?&5&0*#S>#CEFJ#QH(+/):R

+%"e FEeGE#?949

f8)."e 4:#H,(*&'"#-!"'')+>#FE#-)*!"/()8#$,)/>#-!"'')+#YEEESY

6)*"#,3#1,,L#.8,0&("e# j&8:#GE>#CEFJ#Q7"/'"0/):R#*,#?&5&0*#S>#CEFJ#QH(+/):R#QI,*!#/):0#+'.8&0+M"R9#


27

b. Date, time and location of the last three Annual General Meetings

Year Date and Time of Meeting Venue Special Resolutions approved

CEFE^FF &"0/):>#FG*!#B"2*"%I"(>#CEFE^FF &"0/):>#FG*!#B"2*"%I"(>#CEFF

\$ #\()'/># #T)5)(>#-!"'')+#YEEEFD

Nil

CEFF^FC !&(0/):>#G(/#?&5&0*>#CEFC 4:#H,(*&'"#-!"'')+>#FE#-)*!"/()8#CEFF^FC !&(0/):>#G(/#?&5&0*>#CEFC 4:#H,(*&'"#-!"'')+>#FE#-)*!"/()8#$,)/>#-!"'')+#YEEESY

$"%&'"()*+,'#,3#4)')5+'5#6+(".*,(>#?22,+'*%"'*#,3#("8)*+M"#&'/"(#,O."#,3#2(,P*>#-,%%+00+,'#*,#','^"`".&*+M"#6+(".*,(0#3,(#)#2"(+,/#,3#X#:")(0#)'/#alteration of Articles of Association replacing the rights ,3#4).%+88)'#=+*!#?6a#1fh9

CEFC^FG 4,'/):>#?&5&0*#X>#CEFG 4:#H,(*&'"#-!"'')+>#FE#-)*!"/()8#CEFC^FG 4,'/):>#?&5&0*#X>#CEFG 4:#H,(*&'"#-!"'')+>#FE#-)*!"/()8#$,)/>#-!"'')+#YEEESY

?22,+'*%"'*#,3#4(9#$)!&8#?(,()#*,#)'#hO."#,(#28)."#,3#2(,P*#&'/"(#0".*+,'#GFJ#,3#*!"#-,%2)'+"0#?.*>#FWXY

?88#("0,8&*+,'0#28)."/#I"3,("#*!"#4"%I"(0#)*#*!"#8)0*#?''&)8#\"'"()8#4""*+'5#,3#*!"#-,%2)':#="("#2)00"/#=+*!#*!"#("N&+0+*"#%)A,(+*:9##

c. Date, time and location of the last Court Convened Shareholders Meeting

Year Date and Time of Meeting Venue Special Resolution approval

CEES H(+/):#C'/#?&5&0*#CEES>#)*#CEES H(+/):#C'/#?&5&0*#CEES>#)*#GeGE#f949

g,*"8#f)8%5(,M"T,9#X>#k)/)%I)LL)%#g+5!#$,)/>T&'5)%I)LL)%-!"'')+#c#YEEEGJ

To consider and approve the Scheme of Arrangement +'M,8M+'5#%"(5"(#,3#-!)(,'# ".#d*/9#)'/#4).%+88)'â--#f&I8+0!+'5#B,8&*+,'0#fM*9#d*/9#=+*!#*!"#-,%2)':#)'/#demerger of the publishing business of the Company +'*,#4).%+88)'#f&I8+0!"(0#a'/+)#d*/9

Postal ballot?#02".+)8#("0,8&*+,'#("N&+(+'5#2,0*)8#I)88,*#3,(#0!+3*+'5#,3#("5+0*"("/#,O."#*,#T- >#6"8!+#3(,%#B*)*"#,3# )%+8#T)/&#=)0#2(,2,0"/#I:#f,0*)8#1)88,*#/)*"/#4):#CS>#CEFG#)'/#*!"#0)%"#=)0#2)00"/#I:#WW9WSl#,3#*!"#M)8+/#M,*"0#("."+M"/9#4(9#$#B(+/!)()'>#H-B#,3#$#B(+/!)()'#b#?00,.+)*"0>#-,%2)':#B".("*)(+"0#=)0#)22,+'*"/#0.(&*+'+i"(#3,(#*!"#)I,M"#2&(2,0"9# !"#("0&8*#,3#*!"#02".+)8#("0,8&*+,'#=)0#/".8)("/#I:#*!"#-!)+(%)'#,'#4):#CS>#CEFG#)*#FC#',,'9# !"#("0&8*#,3#*!"#f,0*)8#1)88,*#=)0#+%%"/+)*"8:# +'*+%)*"/#*,#*!"#0*,.L#"`.!)'5"0#)'/#)80,#2,0*"/#,'#*!"#-,%2)':K0#="I0+*"9

d. Financial Calendar

Financial year ?2(+8#CEFJ#*,#4)(.!#CEFX

m#$"2,(*+'5#3,(#*!"#N&)(*"(#"'/+'5#

j&'"#GE>#CEFJ ?&5&0*#CEFJ

m#$"2,(*+'5#3,(#*!"#N&)(*"(#"'/+'5

B"2*"%I"(#GE>#CEFJ h.*,I"(#CEFJ

m#$

)'&)(:#CEFX

m#$"2,(*+'5#3,(#*!"#N&)(*"(#"'/+'5

4)(.!#GF>#CEFX#b#?''&)8#)..,&'*0 4):#CEFX

m#?\4#3,(#*!"#:")(#"'/+'5#

4)(.!#GF>#CEFX ?&5&0*#CEFX

The Quarterly Financial results are published in Financial Express, and in the Tamil daily, Maalai Sudar and are also available on the Company’s website www.adi-mps.com apart from being disseminated via the Stock Exchanges where the shares are listed. The presentations made to the analysts, apart from being disseminated to the Stock exchanges are also displayed on the website of the Company.

e. Dividend Payment Date(s)

Interim Dividend !"#-,%2)':#/".8)("/#*!(""#a'*"(+%#6+M+/"'/0#/&(+'5#*!"#:")(#&'/"(#("2,(*#c#P(0*#+'*"(+%#/+M+/"'/#Q$09#X#2"(#0!)("R#=)0#2)+/#,&*#,'#B"2*"%I"(#GE>#CEFG>#*!"#0".,'/#+'*"(+%#/+M+/"'/#Q$09#X#2"(#0!)("R#=)0#2)+/#,&*#,'#T,M"%I"(#GE>#CEFG#)'/#*!"#*!+(/#+'*"(+%#/+M+/"'/#Q$09#D#2"(#0!)("R#=)0#2)+/#,&*#,'##4)(.!#F>#CEFJ9

!" #$%&'($)$*"+,-$ $$# ,="(0#a@>#B&2"(#?>#FY]FD# #@#k#a'/&0*(+)8#;0*)*">#\&+'/:>#-!"'')+#YEE#EGC

g. Web site address ===9)/+^%209.,%

h. Listing on Stock Exchange at Madras Stock Exchange Ltd.

;`.!)'5"#1&+8/+'5>#f,0*#1,`#T,9#FSG>#FF>#B".,'/#d+'"#1").!>#-!"'')+#YEE#EEF9

National Stock Exchange of India Ltd.

QB.(+2#.,/"#c#4fB#d 6R#;`.!)'5"#f8)i)>#1)'/()#k&(8)#-,%28"`>#1)'/()#Q;)0*R>#QB.(+2#.,/"#c#4fB#dQB.(+2#.,/"#c#4fB#d4&%I)+#JEE#EXF

Bombay Stock Exchange Ltd.

QB.(+2#-,/"#XGCJJER>#fj# ,="(0>#6)8)8#B*(""*>#4&%I)+#JEE#EEFQB.(+2#-,/"#XGCJJER>#fQB.(+2#-,/"#XGCJJER>#f

!"#8+0*+'5#3""0#3,(#*!"#P')'.+)8#:")(#CEFJ^FX#="("#2)+/#*,#)88#*!"#)I,M"#0*,.L#"`.!)'5"09



i. Dematerialization of The shares of the Company are compulsorily traded in demat form and are share and liquidity )M)+8)I8"#3,(#*()/+'5#&'/"(#I,*!#*!"#6"2,0+*,(:#B:0*"%0#+'#a'/+)#cTB6d#)'/#-6Bd#?0#,'#

4)(.!#GF>#CEFJ>#)#*,*)8#,3#F>YD>WF>XJS#0!)("0#,3#*!"#-,%2)':#=!+.!#3,(%0#WW9SFl#,3#*!"#B!)("#-)2+*)8>#0*,,/#/"%)*"(+)8+i"/9

j. Shares transfer system ()'03"(#,3#0!)("0#+'#f!:0+.)8#3,(%#!)0#I""'#/"8"5)*"/#I:#*!"#1,)(/#*,#."(*)+'#,33+.+)80#,3#*!"#$"5+0*()(]-,%2)':#*,#3).+8+*)*"#02""/:#0"(M+."#*,#*!"#0!)("!,8/"(09#?88#("N&"0*#3,(#/"%)*"(+)8+i)*+,'#,3#0!)("0#)("#2(,."00"/>#+3#3,&'/#+'#,(/"(>#)'/#.,'3+(%)*+,'#+0#5+M"'#*,#*!"#("02".*+M"#/"2,0+*,(+"0#+9"9#TB6d#b#-6Bd#=+*!+'#*!"#0*)*&*,(:#2"(+,/9

k. Members Information 4"%I"(0#!,8/+'5#0!)("0#+'#*!"#;8".*(,'+.#3,(%#0!,&8/#)//("00#*!"+(#.,(("02,'/"'.">#"`."2*#*!,0"#("8)*+'5#*,#/+M+/"'/>#*,#*!"+(#("02".*+M"#6"2,0+*,(:#f)(*+.+2)'*09# !"("#)("#',#pending cases relating to disputes over title shares in which the Company has been made )#2)(*:9

STOCK MARKET DATA

National Stock Exchange (NSE)

Month High (Rs.) Low (Rs.) Close (Rs.) Volume

?2(+8#CEFG FCS9EE FFX9WX FFW9SX SS>YJW

4):#CEFG FGW9XE FFJ9EE FFX9CX C>GY>EDE

j&'"#CEFG FCE9SE WW9EE FED9JE SE>ESD

j&8:#CEFG FGC9EE FEX9EE FCJ9JE F>JJ>WSY

?&5&0*#CEFG FGF9WX FEY9EE FFD9EE F>YS>SYS

B"2*"%I"(#CEFG FCF9EE FEY9EE FFX9FX SX>YJG

h.*,I"(#CEFG FDF9EE FFE9XE FXD9DE C>DW>XCJ

T,M"%I"(#CEFG FWJ9XE FYF9SE FDX9YE F>SJ>YWF

6"."%I"(#CEFG CJJ9EE FDJ9CE CCD9SX C>DJ>DSF

j)'&)(:#CEFJ CJW9DE CED9XX CCC9FX C>DS>WCD

H"I(&)(:#CEFJ GDX9WX CFD9FE GYF9XX FC>YF>FED

4)(.!#CEFJ JCJ9XE GXJ9CE GYG9YE FF>XY>GCG

Bombay Stock Exchange (BSE)

Month High (Rs.) Low (Rs.) Close (Rs.) Volume

?2(+8#CEFG FCS9WE FFC9FE FFW9WE SC>XXE

4):#CEFG FGW9DE FFG9EE FFX9JX F>YW>FES

j&'"#CEFG FCF9DE WW9EE FEY9JX YW>YXC

j&8:#CEFG FGC9EE FEX9EX FCJ9XE WF>FJE

?&5&0*#CEFG FCS9WE FEY9EE FFX9FE F>EF>YXC

B"2*"%I"(#CEFG FCE9EE FEY9EE FFX9CE DW>DGG

h.*,I"(#CEFG FDF9EE FFF9FE FXW9GX C>JD>EGE

T,M"%I"(#CEFG FWG9XE FYC9DX FDX9JX F>EF>WJD

6"."%I"(#CEFG CJC9EE FDE9EE CCD9XE F>XX>CDJ

j)'&)(:#CEFJ CJW9CX CEC9EE CCF9SX WW>YDX

H"I(&)(:#CEFJ GDX9EE CFW9EE GYF9JX J>DY>SDE

4)(.!#CEFJ JCJ9JX GXY9FE GYX9JX G>SJ>CCD

!"("#=)0#',#*()/+'5#,3#*!"#-,%2)':K0#0!)("0#+'#*!"#4)/()0#B*,.L#;`.!)'5"#Q4B;R#/&(+'5#*!"#:")(9# !"#-,%2)':K0#0!)("0#.)'#I"#0,8/#*!(,&5!#B*,.L#;`.!)'5"0#,'8:#+'#/"%)*#3,(%9

Page_23-32_Corporate_governance_report.indd 28Page_23-32_Corporate_governance_report.indd 28Page_23-32_Corporate_governance_report.indd 28Page_23-32_Corporate_governance_report.indd 28Page_23-32_Corporate_governance_report.indd 28Page_23-32_Corporate_governance_report.indd 28Page_23-32_Corporate_governance_report.indd 28Page_23-32_Corporate_governance_report.indd 28Page_23-32_Corporate_governance_report.indd 28Page_23-32_Corporate_governance_report.indd 28Page_23-32_Corporate_governance_report.indd 28 05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM05/07/14 5:21 PM

29

350

300

250

200

150

100

50

01-Apr-

13

01-May-

13

01-Jun-1

3

01-Jul-1

3

01-Aug-1

3

01-Sep-1

3

01-Oct

-13

01-Nov-

13

01-Dec-

13

01-Jan-1

4

01-Feb-1

4

01-Mar-

14

MPS Share Price - relative to indicesRebased with 01-Apr-2014 = 100

Close Price BSE Sensex BSE TECK BSE MidcapClose Price BSE Sensex BSE TECK BSE MidcapClose Price BSE Sensex BSE TECK BSE MidcapClose Price BSE Sensex BSE TECK BSE Midcap

Per Share Data

Year March 31, 2014 March 31, 2013March 31, 2012

(15 months)December 31,

2010December 31,

2009

T"*#;)('+'50#Q$09#d).0R J>GJJ9JJ G>FSW9EC F>ESD9FGJ>GJJ9JJ G>FSW9EC F>ESD9FG QSSE9DFR DFC9YX

;fB#Q$09R CX9SC FS9WY Y9JY# QX9CJR J9CJ

6+M+/"'/#2"(#B!)("#Q$09R FD9EE FE9EE J9EE Nil F9EE

6+M+/"'/#f):,&*#QlR DD9EF YF9GE DF9WJ Nil FE9EE

1,,L#@)8&"#2"(#B!)("#Q$09R XX9EY JW9FC JF9DW GW9WS YJ9JW

f(+."#*,#;)('+'50 FJ9ES Y9YC Y9DJ QS9YCR FX9YF

f(+."#*,#1,,L#@)8&" Y9YE C9XY F9EJ F9FG F9EG

SHAREHOLDING PATTERN

Distribution of Shareholding as at March 31, 2014

Category of shareholdings From – to No. of shareholders % of total Total Shares Amount (Rs.) % of total amount

# # # # F#c#XEEE X>DJF SX9CC Y>GE>YES YG>EY>ESESX9CC Y>GE>YES YG>EY>ESE G9DX

XEEF#c#FEEEE GWW X9WC G>CX>EYF GC>XE>YFEX9WC G>CX>EYF GC>XE>YFE F9WG

FEEEF#c#CEEEE CJW G9DE G>SC>GYG GS>CG>YGEG9DE G>SC>GYG GS>CG>YGE C9CD

CEEEF#c#GEEEE FED F9XW C>DG>EJF CD>GE>JFEF9XW C>DG>EJF CD>GE>JFE F9YC

GEEEF#c#JEEEE XG E9DW F>WF>JXG FW>FJ>XGEE9DW F>WF>JXG FW>FJ>XGE F9FJ

JEEEF#c#XEEEE JD E9DE C>CE>DSY CC>ED>SYEE9DE C>CE>DSY CC>ED>SYE F9GF

XEEEF#c#FEEEEE SD F9CW Y>GD>EWE YG>DE>WEEF9CW Y>GD>EWE YG>DE>WEE G9DW

FEEEEF#c#?'/#?I,M" XJ E9SE F>JF>YC>CYY FJ>FY>CC>YYE SJ9FWE9SE F>JF>YC>CYY FJ>FY>CC>YYE SJ9FW

TOTAL 6,737 100.00 1,68,22,668 16,82,26,680 100.00100.00 1,68,22,668 16,82,26,680 100.00



Category of Shareholding as on March 31, 2014

Category No. of holders Total shares % to Equity

Promoter 1 1,26,16,996 75.001 1,26,16,996 75.00

Financial Institution 1 1,825 0.01

Foreign Institutional Investor 1 4,602 0.03

Bank 1 625 0.00

Resident 6,286 35,09,620 20.866,286 35,09,620 20.86

NRI 102 1,63,282 0.97

Corporate Body 293 5,17,588 3.08

Clearing Member 52 8,130 0.05

TOTAL 6,737 1,68,22,668 100.006,737 1,68,22,668 100.00

Shareholding Pattern physical vs. demat as on March 31, 2014

Category No. of holders Total positions % of Holdings

PHYSICAL 103 31,120 0.18

NSDL 4,445 1,55,70,754 92.564,445 1,55,70,754 92.56

CDSL 2,189 12,20,794 7.26

TOTAL 6,737 1,68,22,668 100.006,737 1,68,22,668 100.00

Publishing Services Locations

Chennai Books, Journals, Digital Services and Learning & New Media Services Unit and !"#$%!&!'()*+!

RR Towers, Super A, 16/17 TVK Industrial Estate, Chennai 600032

Bengaluru Journals, Books, Digital Services & Ad-Studio Unit

137, HMG Ambassador, Residency Road, Bengaluru 560025

,-&"./0(1-23224!0%(5!&6#+!$(7(8/0%!0%(Hosting unit

340 Udyog Vihar, Phase IV, Gurgaon, Haryana 122016

Delhi Book Composing Unit ,&/-0'(9//&:(;5<8(=>.6.0:(5?@(8/4A2!B:(Okhla Industrial Estate, New Delhi 110020

Dehradun Books & Journals Unit 33, Sahastra Dhara Road, IT Park, Dehradun, Uttarakhand 248001

USA Books Unit 810, SE, Sherman Suite B, Portland, OR 97214, USA

Address for Correspondence

Registrars and Transfer Agents(Share transfer and communication regarding $>.&!(+!&%#3+.%!$:('#6#'!0'$(.0'(+>.0"!(/C(address)

!"#$%&'()*+,()-

Cameo Corporate Services LimitedSubramanian Building, 1 Club House Road, Chennai 600002Phone no. 044 – 28460390Contact person: Mr. Narasimhan

Supriya Kumar GuhaVice President & Company Secretary137, HMG Ambassador, Residency Road, Bengaluru 560025E-mail: [email protected]@>/0!(DED(FGHEFDIJK(1.B(0/L(FIDDFFDD

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31

TO THE MEMBERS OF MPS LIMITED

!"#$%!"!&$'()!*"+#!",-'./($),!"-0",-)*(+(-)1"-0"2-3.-3$+!"4-%!3)$),!"56"789":('(+!*;"<=+#!"2-'.$)6>?"0-3"+#!"6!$3"!)*!*"@A1+"7$3,#"BCAD;"$1"1+(.E/$+!*"()"2/$E1!"DF"-0"+#!":(1+()G"HG3!!'!)+"-0"+#!"1$(*"2-'.$)6"I(+#"+#!"9+-,J"K&,#$)G!1L

M#!",-'./($),!"-0",-)*(+(-)1"-0"2-3.-3$+!"4-%!3)$),!"(1"+#!"3!1.-)1(5(/(+6"-0"+#!"7$)$G!'!)+L"NE3"!&$'()$+(-)"#$1"5!!)"/('(+!*"+-"$"3!%(!I"-0"+#!".3-,!*E3!1"$)*"('./!'!)+$+(-)"+#!3!-0;"$*-.+!*"56"+#!"2-'.$)6"0-3"!)1E3()G"+#!",-'./($),!"I(+#"+#!",-)*(+(-)1"-0"2-3.-3$+!"4-%!3)$),!L"O+"(1")!(+#!3"$)"$E*(+")-3"$)"!&.3!11(-)"-0"-.()(-)"-)"+#!"P)$),($/"1+$+!'!)+1"-0"+#!"2-'.$)6L"

O)"-E3"-.()(-)"$)*"+-"+#!"5!1+"-0"-E3"()0-3'$+(-)"$)*"$,,-3*()G"+-"+#!"!&./$)$+(-)1"G(%!)"+-"E1"$)*"+#!"3!.3!1!)+$+(-)1"'$*!"56"+#!"Q(3!,+-31"$)*"+#!"7$)$G!'!)+;"I!",!3+(06"+#$+"+#!"2-'.$)6"#$1",-'./(!*"I(+#"+#!",-)*(+(-)1"-0"2-3.-3$+!"4-%!3)$),!"$1"1+(.E/$+!*"()"2/$E1!"DF"-0"+#!"$5-%!"'!)+(-)!*":(1+()G"HG3!!'!)+L

!"0E3+#!3"1+$+!"+#$+"1E,#",-'./($),!"(1")!(+#!3"$)"$11E3$),!"$1"+-"+#!"0E+E3!"%($5(/(+6"-0"+#!"2-'.$)6")-3"-0"+#!"!R,(!),6"-3"!S!,+(%!)!11"I(+#"I#(,#"+#!"7$)$G!'!)+"#$1",-)*E,+!*"+#!"$S$(31"-0"+#!"2-'.$)6L

For Deloitte Haskins & Sells Chartered Accountants

<T!G(1+3$+(-)"U-"CCVCWB9?

Monisha Parikh8/$,!X"7E'5$( 8$3+)!3Q$+!X"7$6"BB;"BCAD" <T!G(1+3$+(-)"U-"DWVDC?



DECLARATION OF CODE OF CONDUCT

To

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?8+43A"07-M+$2+'3A"0+="JJ!"JKIL


33

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF MPS LIMITED

REPORT ON THE FINANCIAL STATEMENTS !"#$%!"$&'()!'")#!"$**+,-$./(.0"1.$.*($2"3)$)!,!.)3"+4"MPS LIMITED"56)#!"7+,-$./89:";#(*#"*+,-<(3!")#!"=$2$.*!">#!!)"$3"$)"?$<*#"@A:"BCAD:")#!">)$)!,!.)"+4"E<+1)"$.'"F+33"$.'")#!"7$3#"G2+;">)$)!,!.)"4+<")#!"/!$<")#!."!.'!':"$.'"$"3&,,$</"+4")#!"3(0.(1*$.)"$**+&.)(.0"-+2(*(!3"$.'"+)#!<"!H-2$.$)+</"(.4+<,$)(+.I

MANAGEMENT’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

AUDITORS’ RESPONSIBILITYV&<" <!3-+.3(L(2()/" (3" )+" !H-<!33"$."+-(.(+."+." )#!3!"1.$.*($2" 3)$)!,!.)3"L$3!'"+."+&<"$&'()I" !"*+.'&*)!'"+&<"$&'()" (." $**+<'$.*!";()#")#!">)$.'$<'3"+."N&'()(.0"(33&!'"L/")#!"U.3)()&)!"+4"7#$<)!<!'"N**+&.)$.)3"+4"U.'($I"J#+3!">)$.'$<'3"<!W&(<!")#$)";!"*+,-2/";()#"!)#(*$2"<!W&(<!,!.)3"$.'"-2$."$.'"-!<4+<,")#!"$&'()")+"+L)$(."<!$3+.$L2!"$33&<$.*!"$L+&)";#!)#!<")#!"1.$.*($2"3)$)!,!.)3"$<!"4<!!"4<+,",$)!<($2",(33)$)!,!.)I

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

!"L!2(!%!")#$)")#!"$&'()"!%('!.*!";!"#$%!"+L)$(.!'"(3"3&Z*(!.)"$.'"$--<+-<($)!")+"-<+%('!"$"L$3(3"4+<"+&<"$&'()"+-(.(+.I

OPINIONU."+&<"+-(.(+."$.'")+")#!"L!3)"+4"+&<"(.4+<,$)(+."$.'"$**+<'(.0")+")#!"!H-2$.$)(+.3"0(%!.")+"&3:")#!"$4+<!3$('"1.$.*($2"3)$)!,!.)3"0(%!")#!"(.4+<,$)(+."<!W&(<!'"L/")#!"N*)"(.")#!",$..!<"3+"<!W&(<!'"$.'"0(%!"$")<&!"$.'"4$(<"%(!;"(."*+.4+<,()/";()#")#!"$**+&.)(.0"-<(.*(-2!3"0!.!<$22/"$**!-)!'"(."U.'($[

5$9 (.")#!"*$3!"+4")#!"=$2$.*!">#!!):"+4")#!"3)$)!"+4"$T$(<3"+4")#!"7+,-$./"$3"$)"?$<*#"@A:"BCAD\

5L9 (.")#!"*$3!"+4")#!">)$)!,!.)"+4"E<+1)"$.'"F+33:"+4")#!"-<+1)"+4")#!"7+,-$./"4+<")#!"/!$<"!.'!'"+.")#$)"'$)!\"$.'

5*9 (.")#!"*$3!"+4")#!"7$3#"G2+;">)$)!,!.):"+4")#!"*$3#"M+;3"+4")#!"7+,-$./"4+<")#!"/!$<"!.'!'"+.")#$)"'$)!I

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTSAI N3"<!W&(<!'"L/")#!"7+,-$.(!3"5N&'()+<K3"]!-+<)9"V<'!<:"BCC@"56)#!"V<'!<89"(33&!'"L/")#!"7!.)<$2"R+%!<.,!.)"(.")!<,3"+4">!*)(+."BB^5DN9"

+4")#!"N*):";!"0(%!"(.")#!"N..!H&<!"$"3)$)!,!.)"+.")#!",$))!<3"3-!*(1!'"(."-$<$0<$-#3"D"$.'"P"+4")#!"V<'!<I"

BI N3"<!W&(<!'"L/">!*)(+."BB^5@9"+4")#!"N*):";!"<!-+<)")#$)[

5$9 !"#$%!"+L)$(.!'"$22")#!"(.4+<,$)(+."$.'"!H-2$.$)(+.3";#(*#")+")#!"L!3)"+4"+&<"Y.+;2!'0!"$.'"L!2(!4";!<!".!*!33$</"4+<")#!"-&<-+3!3"+4"+&<"$&'()I

5L9 U." +&<" +-(.(+.:" -<+-!<" L++Y3" +4" $**+&.)" $3" <!W&(<!'" L/" 2$;" #$%!" L!!." Y!-)" L/" )#!" 7+,-$./" 3+" 4$<" $3" ()" $--!$<3" 4<+," +&<"!H$,(.$)(+."+4")#+3!"L++Y3I

5*9 J#!"=$2$.*!">#!!):")#!">)$)!,!.)"+4"E<+1)"$.'"F+33:"$.'")#!"7$3#"G2+;">)$)!,!.)"'!$2)";()#"L/")#(3"]!-+<)"$<!"(."$0<!!,!.)";()#")#!"L++Y3"+4"$**+&.)I

5'9 U."+&<"+-(.(+.:")#!"=$2$.*!">#!!):")#!">)$)!,!.)"+4"E<+1)"$.'"F+33:"$.'")#!"7$3#"G2+;">)$)!,!.)"*+,-2/";()#")#!"N**+&.)(.0">)$.'$<'3".+)(1!'"&.'!<")#!"N*)"5;#(*#"*+.)(.&!")+"L!"$--2(*$L2!"(."<!3-!*)"+4">!*)(+."A@@"+4")#!"7+,-$.(!3"N*):"BCA@"(.")!<,3"+4"R!.!<$2"7(<*&2$<"APSBCA@"'$)!'">!-)!,L!<"A@:"BCA@"+4")#!"?(.(3)</"+4"7+<-+<$)!"NT$(<39I

5!9 V.")#!"L$3(3"+4")#!";<())!."<!-<!3!.)$)(+.3"<!*!(%!'"4<+,")#!"'(<!*)+<3"$3"+."?$<*#"@A:"BCAD")$Y!."+."<!*+<'"L/")#!"=+$<'"+4"_(<!*)+<3:".+.!"+4")#!"'(<!*)+<3"(3"'(3W&$2(1!'"$3"+."?$<*#"@A:"BCAD"4<+,"L!(.0"$--+(.)!'"$3"$"'(<!*)+<"(.")!<,3"+4">!*)(+."B^D5A9509"+4")#!"N*)I

MUMBAI, ?$/"BB:"BCAD?ES?R]SBCAD

G+<"DELOITTE HASKINS & SELLS7#$<)!<!'"N**+&.)$.)3

5G(<,"]!0(3)<$)(+."`+I"CCaC^B>9

Monisha Parikh E$<).!<

5?!,L!<3#(-"`+I"DâDC9

Page_33-34_Auditors Report_Standalone.indd 33Page_33-34_Auditors Report_Standalone.indd 33Page_33-34_Auditors Report_Standalone.indd 33Page_33-34_Auditors Report_Standalone.indd 33 05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM


ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT(Referred to in paragraph 1 under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even date)

5(9 c$%(.0"<!0$<'")+")#!".$)&<!"+4")#!"7+,-$./K3"L&3(.!33S$*)(%()(!3S<!3&2)3"'&<(.0")#!"/!$<:"*2$&3!3"((:"%(:"%(((:"H((:"H(((:"H(%:"H%(:"H(H"$.'"HH"+4"E$<$0<$-#"D"+4")#!"V<'!<"$<!".+)"$--2(*$L2!")+")#!"7+,-$./I

5((9 U."<!3-!*)"+4"()3"1H!'"$33!)3[

5$9 J#!"7+,-$./"#$3",$(.)$(.!'"-<+-!<"<!*+<'3"3#+;(.0"4&22"-$<)(*&2$<3:"(.*2&'(.0"W&$.)()$)(%!"'!)$(23"$.'"3()&$)(+."+4"1H!'"$33!)3I

5L9 J#!" 1H!'" $33!)3" ;!<!" -#/3(*$22/" %!<(1!'" '&<(.0" )#!" /!$<" L/" )#!" ?$.$0!,!.)" (." $**+<'$.*!" ;()#" $" <!0&2$<" -<+0<$,,!" +4"%!<(1*$)(+.";#(*#:"(."+&<"+-(.(+.:"-<+%('!3"4+<"-#/3(*$2"%!<(1*$)(+."+4"$22")#!"1H!'"$33!)3"$)"<!$3+.$L2!"(.)!<%$23I"N**+<'(.0")+")#!"(.4+<,$)(+."$.'"!H-2$.$)(+."0(%!.")+"&3:".+",$)!<($2"'(3*<!-$.*(!3";!<!".+)(*!'"+."3&*#"%!<(1*$)(+.I

5*9 J#!"1H!'"$33!)3"'(3-+3!'"+T"'&<(.0")#!"/!$<:"(."+&<"+-(.(+.:"'+".+)"*+.3)()&)!"$"3&L3)$.)($2"-$<)"+4")#!"1H!'"$33!)3"+4")#!"7+,-$./"$.'"3&*#"'(3-+3$2"#$3:"(."+&<"+-(.(+.:".+)"$T!*)!'")#!"0+(.0"*+.*!<."3)$)&3"+4")#!"7+,-$./I"

5(((9 J#!"7+,-$./"#$3".!()#!<"0<$.)!'".+<")$Y!."$./"2+$.3:"3!*&<!'"+<"&.3!*&<!':")+S4<+,"*+,-$.(!3:"1<,3"+<"+)#!<"-$<)(!3"2(3)!'"(.")#!"]!0(3)!<",$(.)$(.!'"&.'!<">!*)(+."@CA"+4")#!"7+,-$.(!3"N*):"AOPQI"

5(%9 U."+&<"+-(.(+."$.'"$**+<'(.0")+")#!"(.4+<,$)(+."$.'"!H-2$.$)(+.3"0(%!.")+"&3:"#$%(.0"<!0$<'")+")#!"!H-2$.$)(+.3")#$)"3+,!"+4")#!"()!,3"-&<*#$3!'"$<!"+4"3-!*($2".$)&<!"$.'"3&()$L2!"$2)!<.$)(%!"3+&<*!3"$<!".+)"<!$'(2/"$%$(2$L2!"4+<"+L)$(.(.0"*+,-$<$L2!"W&+)$)(+.3:")#!<!"(3"$."$'!W&$)!"(.)!<.$2"*+.)<+2"3/3)!,"*+,,!.3&<$)!";()#")#!"3(d!"+4")#!"7+,-$./"$.'")#!".$)&<!"+4"()3"L&3(.!33";()#"<!0$<'")+"-&<*#$3!"+4"1H!'"$33!)3"$.'"3$2!"+4"3!<%(*!3I"_&<(.0")#!"*+&<3!"+4"+&<"$&'():";!"#$%!".+)"+L3!<%!'"$./",$X+<";!$Y.!33"(."3&*#"(.)!<.$2"*+.)<+2"3/3)!,I"J#!"$*)(%()(!3"+4")#!"7+,-$./"'+".+)"(.%+2%!"-&<*#$3!"+4"(.%!.)+</"$.'"3$2!"+4"0++'3I

5%9 J+")#!"L!3)"+4"+&<"Y.+;2!'0!"$.'"L!2(!4"$.'"$**+<'(.0")+")#!" (.4+<,$)(+."$.'"!H-2$.$)(+."0(%!.")+"&3:" )#!<!"$<!".+"*+.)<$*)3"+<"$<<$.0!,!.)3")#$)".!!'!'")+"L!"!.)!<!'"(.")#!"]!0(3)!<",$(.)$(.!'"(."-&<3&$.*!"+4">!*)(+."@CA"+4")#!"7+,-$.(!3"N*):"AOPQI

5%(9 U."+&<"+-(.(+.:")#!"(.)!<.$2"$&'()"4&.*)(+.3"*$<<(!'"+&)"'&<(.0")#!"/!$<"L/"$."!H)!<.$2"$0!.*/"$--+(.)!'"L/")#!"?$.$0!,!.):"#$%!"L!!."*+,,!.3&<$)!";()#")#!"3(d!"+4")#!"7+,-$./"$.'")#!".$)&<!"+4"()3"L&3(.!33I

5%((9 N**+<'(.0")+")#!"(.4+<,$)(+."$.'"!H-2$.$)(+.3"0(%!.")+"&3:"(."<!3-!*)"+4"3)$)&)+</"'&!3["

5$9 J#!" 7+,-$./" #$3" 0!.!<$22/" L!!." <!0&2$<" (." '!-+3()(.0" &.'(3-&)!'" '&!3:" (.*2&'(.0" E<+%('!.)" G&.':" U.%!3)+<" e'&*$)(+." $.'"E<+)!*)(+."G&.':"U.*+,!f)$H:"e,-2+/!!3K">)$)!"U.3&<$.*!:">$2!3"J$H:" !$2)#"J$H:">!<%(*!"J$H:"7&3)+,3"_&)/:"eH*(3!"_&)/:"7!33"$.'"+)#!<",$)!<($2"3)$)&)+</"'&!3"$--2(*$L2!")+"()";()#")#!"$--<+-<($)!"$&)#+<()(!3:"+)#!<")#$."'!2$/3"(."<!,())$.*!3"+4">!<%(*!"J$HI

5L9 J#!<!";!<!".+"&.'(3-&)!'"$,+&.)3"-$/$L2!"(."<!3-!*)"+4"E<+%('!.)"G&.':"U.%!3)+<"e'&*$)(+."$.'"E<+)!*)(+."G&.':"e,-2+/!!3K">)$)!"U.3&<$.*!:"U.*+,!f)$H:">$2!3"J$H:" !$2)#"J$H:">!<%(*!"J$H:"7&3)+,"_&)/:"eH*(3!"_&)/:"7!33"$.'"+)#!<",$)!<($2"3)$)&)+</"'&!3"(."$<<!$<3"$3"$)"?$<*#"@A:"BCAD"4+<"$"-!<(+'"+4",+<!")#$."3(H",+.)#3"4<+,")#!"'$)!")#!/"L!*$,!"-$/$L2!I"

5*9 _!)$(23" +4" '&!3" +4" U.*+,!f)$H:" >$2!3" J$H:" !$2)#" J$H:" >!<%(*!" J$H:" 7&3)+,"_&)/:" eH*(3!"_&)/" $.'"7!33";#(*#" #$%!" .+)" L!!."'!-+3()!'"$3"+."?$<*#"@A:"BCAD"+."$**+&.)"+4"'(3-&)!3"$<!"0(%!."L!2+;[

StatuteNature of

Dues Forum where Dispute is pendingPeriod to which the amount

relatesAmount involved

INR in Lacs

U.*+,!"J$H"N*) U.*+,!"J$H U.*+,!"J$H"N--!22$)!"J<(L&.$2 BCCQgC^ AABIBP

7+,,(33(+.!<"+4"U.*+,!"J$H"5N--!$239 BCC^gCa

_(3-&)!"]!3+2&)(+."E$.!2

G(.$.*!"N*) >!<%(*!"J$H 7&3)+,3"$.'"eH*(3!">!<%(*!"J$H"N--!22$)!"J<(L&.$2

N-<(2"BCCQ")+">!-)!,L!<:"BCCa A^DIaa

5%(((9 J#!"7+,-$./"'+!3".+)"#$%!"$**&,&2$)!'" 2+33!3"$)")#!"!.'"+4")#!"1.$.*($2"/!$<"$.'")#!"7+,-$./"#$3".+)" (.*&<<!'"*$3#" 2+33!3"'&<(.0")#!"1.$.*($2"/!$<"*+%!<!'"L/"+&<"$&'()"$.'"(.")#!"(,,!'($)!2/"-<!*!'(.0"1.$.*($2"/!$<I

5(H9 U."+&<"+-(.(+."$.'"$**+<'(.0")+")#!"(.4+<,$)(+."$.'"!H-2$.$)(+.3"0(%!.")+"&3:")#!"7+,-$./"#$3".+)"'!4$&2)!'"(.")#!"<!-$/,!.)"+4"'&!3")+"L$.Y3"$.'"1.$.*($2"(.3)()&)(+.3I"J#!"7+,-$./"#$3".+)"(33&!'"$./"'!L!.)&<!3I

5H9 N**+<'(.0")+")#!"(.4+<,$)(+."$.'"!H-2$.$)(+.3"0(%!.")+"&3:")#!"7+,-$./"#$3".+)"0(%!."0&$<$.)!!3"4+<"2+$.3")$Y!."L/"+)#!<3"4<+,"L$.Y3"$.'"1.$.*($2"(.3)()&)(+.3I

5H(9 U."+&<"+-(.(+."$.'"$**+<'(.0")+")#!"(.4+<,$)(+."$.'"!H-2$.$)(+.3"0(%!.")+"&3:"$.'"+."$."+%!<$22"!H$,(.$)(+."+4")#!"=$2$.*!">#!!)"+4" )#!"7+,-$./:";!"<!-+<)" )#$)" 4&.'3"<$(3!'"+."3#+<)f)!<,"L$3(3"#$%!: prima facie:".+)"L!!."&3!'"'&<(.0")#!"/!$<" 4+<" 2+.0f)!<,"(.%!3),!.)I"

5H((9 _&<(.0")#!"/!$<:")#!"7+,-$./"#$3".+)",$'!"$./"-<!4!<!.)($2"$22+),!.)"+4"3#$<!3")+")#!"-$<)(!3"$.'"*+,-$.(!3"*+%!<!'"(.")#!"]!0(3)!<",$(.)$(.!'"&.'!<"3!*)(+."@CA"+4")#!"7+,-$./"N*):"AOPQI

5H(((9 J+" )#!"L!3)"+4"+&<"Y.+;2!'0!"$.'"$**+<'(.0" )+" )#!" (.4+<,$)(+."$.'"!H-2$.$)(+.3"0(%!." )+"&3:".+" 4<$&'"L/" )#!"7+,-$./"$.'".+",$)!<($2"4<$&'"+.")#!"7+,-$./"#$3"L!!.".+)(*!'"+<"<!-+<)!'"'&<(.0")#!"/!$<I"

MUMBAI, ?$/"BB:"BCAD?ES?R]SBCAD

G+<"DELOITTE HASKINS & SELLS7#$<)!<!'"N**+&.)$.)3

5G(<,"]!0(3)<$)(+."`+I"CCaC^B>9

Monisha Parikh E$<).!<

5?!,L!<3#(-"`+I"DâDC9

Page_33-34_Auditors Report_Standalone.indd 34Page_33-34_Auditors Report_Standalone.indd 34Page_33-34_Auditors Report_Standalone.indd 34Page_33-34_Auditors Report_Standalone.indd 34Page_33-34_Auditors Report_Standalone.indd 34Page_33-34_Auditors Report_Standalone.indd 34Page_33-34_Auditors Report_Standalone.indd 34Page_33-34_Auditors Report_Standalone.indd 34Page_33-34_Auditors Report_Standalone.indd 34 05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM05/07/14 5:23 PM

35

In terms of our report attachedFor Deloitte Haskins & Sells For and on behalf of the Board of DirectorsChartered Accountants

Monisha Parikh Nishith Arora Vijay SoodPartner Chairman and Director

Managing Director

Sunit Malhotra Supriya Kumar Guha !"#$%&"'(')"(*%+,)#- ./0('1%2#)-#3(-1

Place: Mumbai Place: Mumbai4(3#56%7789(187:;< 4(3#56%7789(187:;<

Particulars

Note No.

As at 31-Mar-2014 INR in Lacs


I EQUITY AND LIABILITIESI EQUITY AND LIABILITIES

1 Shareholders’ funds1 Shareholders’ funds

=(>%2!(-#%)(0"3(* 3 %;?@A7B7C% %;?@A7B7C%

(b) Reserves and surplus < %C?DA:BE<% %@?DA7BFA%

9,263.21 8,264.65

2 Non-current liabilities2 Non-current liabilities

(a) Long-term borrowings D %;BA:% %;7B<D%

(b) Other long-term liabilities @ %CB<7% %EB;:%

9.22 21.55

3 Current liabilities3 Current liabilities

=(>%2!.-383#-/%G.--.H"'IJ C %F@7B@E% %<<:BC<%

=G>%K-(5#%0(1(G*#J A %;?<FAB;:% %;?E<ABF7%

(c) Other current liabilities E %D7;B@:% %AEDB@F%

=5>%2!.-383#-/%0-.L"J".'J ;: %;:EB<7% %;@BA:%

2,431.81 3,301.49

TOTAL 11,704.24 11,587.69

II ASSETSII ASSETS

1 Non-current assets1 Non-current assets

(a) Fixed assets

(i) Tangible assets ;;BM %;?C<7B7;% %;?E::BCC%

(ii) Intangible assets ;;BN %;<DBCA% %7CDBA:%

%;?AACBEE% %7?;C@BDC%

(b) Non-current investments ;7 %;?:<CB7<% –

(c) Deferred tax assets (net) F;BF %D@BF:% %@DBEE%

(d) Long-term loans and advances ;F %7?:CABC;% %;?CEAB<;%

(e) Other non-current assets ;< %;<BFD% %;CBF<%

5,084.59 4,058.31

2 Current assets2 Current assets

(a) Current investments ;D %;?CD<B:C% %;?CCFB;7%

(b) Inventories ;@ %CA7BCE% %AAEBDD%

(c) Trade receivables ;C %7?AA;B@F% %7?EA:B:A%

(d) Cash and cash equivalents ;A %EC<BDA% %;?;;:BFE%

=#>%2!.-383#-/%*.('J%('5%(5L(')#J ;E %77FBCA% %@DCBFC%

(f) Other current assets 7: %7BA:% %;;ABAC%

6,619.65 7,529.38

TOTAL 11,704.24 11,587.69

2##%())./0('1"'I%'.3#J%$.-/"'I%0(-3%.$%3!#%O'(')"(*%statements

MPS Limited

BALANCE SHEET AS AT 31-MAA ARCH-2014


44th Annual Report36

MPS Limited

STASTST TEAA MENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31-MARCH-2014



Managing Director



Particulars Note No.

For the year ended 31-Mar-2014 INR in Lacs


I Revenue from operations (net) 7; %;A?A7EB7;% %;@?FEEBDE%

II Other Income 22 %@@@B@:% %<ECBA:%

III Total Revenue (I+II) %;E?<EDBA;% %;@?AECBFE%

IV Expenses

(a) Changes in inventories of work-in-process 23 %;:@BC@% %FDB<:%

=G>%Q/0*.1##%G#'#O3J%#R0#'J# 7< %C?A:@BD<% %C?C;7B<F%

(c) Finance costs 7D %FAB<F% %DABCC%

(d) Depreciation and amortisation expense ;; %D:DB77% %CF@B;C%

(e) Other expenses 7@ %<?<<<B7A% %<?F@:B:;%

Total Expenses %;7?E:;B7F% %;7?E:7BCA%

V !"#$%&'("!'%$)*%+,,,-,./ 6,594.58 3,994.61

VI Tax expense:

(a) Current tax %7?7<:B<D% %;?77;BEE%

=G>%=S#JJ>6%9MK%)-#5"3=G>%=S#JJ>6%9M=G>%=S#JJ>6%9M - %=7E<B;<>

=)>%=QR)#JJ>%0-.L"J".'%$.-%3(R%-#*(3"'I%3.%0-".-%1#(-J - %=<CB@F>

(d) Net current tax expense 2,240.45 880.22

(e) Deferred tax %EB@E% %=C<B@F>

Net tax expense 2,250.14 805.59

VII !"#$%("!%$0'%1')!%+.-.,/ 4,344.44 3,189.02

VIII Earnings per equity share (of Rs. 10 each)

Basic and Diluted F;B7 %7DBA7% %;ABE@%

2##%())./0('1"'I%'.3#J%$.-/"'I%0(-3%.$%3!#%O'(')"(*%statements

Page_35-58_Annual-Standalone-Table.indd 36Page_35-58_Annual-Standalone-Table.indd 36Page_35-58_Annual-Standalone-Table.indd 36Page_35-58_Annual-Standalone-Table.indd 36Page_35-58_Annual-Standalone-Table.indd 36Page_35-58_Annual-Standalone-Table.indd 36Page_35-58_Annual-Standalone-Table.indd 36Page_35-58_Annual-Standalone-Table.indd 36Page_35-58_Annual-Standalone-Table.indd 36 05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM05/07/14 5:24 PM

37

MPS Limited

CASH FLOW STATT TEAA MENT FOR THE YEAR 01-APRIL-2013 TO 31-MARCH-2014

Particulars



A. CASH FLOW FROM OPERATING ACTIVITIES

T#3%U-.O3V=S.JJ>%G#$.-#%#R3-(.-5"'(-1%"3#/J%('5%3(R 6,594.58 3,994.61

M5WXJ3/#'3J%$.-6

4#0-#)"(3".'VM/.-3"J(3".' %D:DB77% %CF@B;C%

Interest income %=7BD7> %=;:B<<>

Income from Mutual Funds %=;;AB<A> %=;:CBE@>

Interest expenses %FAB<F% %DABCC%

U-.O3%.'%2(*#V5"J0.J(*VH-"3#8.Y%.$%OR#5%(JJ#3J%='#3> %=EBFA> %7:B@@%

Provision for doubtful debts no longer required written back %=F:BC@> %=FB@C>

S"(G"*"3"#JVU-.L"J".'J%'.%*.'I#-%-#ZX"-#5%H-"33#'%G()[ %=7FEB:C> %=DCBDC>

Provision for doubtful loans and advances %C<B<;% %FFB7C%

N(5%5#G3J%H-"33#'%.Y %;;FB7C% %CBED%

S.('J%('5%M5L(')#J%H-"33#'%.Y %FEBEF% –

\'-#(*"J#5%#R)!('I#%5"Y#-#')#%='#3> %CB7<% %=;DDBA;>

Unrealised Marked to Market loss on Forward Contracts – %=FFABCE>

378.29 182.58

+0#-(3"'I%0-.O3V=*.JJ>%G#$.-#%H.-["'I%)(0"3(*%)!('I#J 6,972.87 4,177.19

Changes in working capital:

M5WXJ3/#'3J%$.-%="')-#(J#>V5#)-#(J#%"'%.0#-(3"'I%(JJ#3J6

Inventories of Work in Process %;:@BC@% %FDB<:%

Trade receivables %;DEBE<% %=C7:B@7>

2!.-383#-/%*.('J%('5%(5L(')#J %;ACB<@% %@<BEE%

Other current assets %;;DB@@% %=;;AB;;>

Long-term loans and advances %=<D;BA<> %=7FFBCF>

+3!#-%T.'% X--#'3%MJJ#3J %7BEE% %FAB;F%

M5WXJ3/#'3J%$.-%"')-#(J#V=5#)-#(J#>%"'%.0#-(3"'I%*"(G"*"3"#J6

K-(5#%0(1(G*#J %=<F<B@:> %FECBF@%

Other current liabilities %=<E7B@:> %<AAB;F%

Other long-term liabilities %=;B@A> %=;7<B<@>

(807.91) (172.91)

Cash generated from operations 6,164.96 4,004.28

T#3%"')./#%3(R%=0("5>V-#$X'5J %=;?E;<B<E> %=A<AB@7>

3'$%4)50%6"7%(!"89+:5';%<=/%">'!)$<=?%)4$<@<$<'5%+A/ 4,250.47 3,155.66

B. CASH FLOW FROM INVESTING ACTIVITIES

(0"3(*%#R0#'5"3X-#%.'%OR#5%(JJ#3J?%"')*X5"'I%)(0"3(*%(5L(')#J% %=7<CB;E>#%.'%OR#5%(JJ#3J?%"')*X5"'I%)(0"3(*%(5L(')#J% %=7<CB;E> %=FEFB::>

U-.)##5J%$-./%J(*#%.$%OR#5%(JJ#3J %7AB:D% %A@B:7%

UX-)!(J#%.$%T.'% X--#'3%]'L#J3/#'3J%8%]'%2XGJ"5"(-"#J %=;?:<CB7<> –

Purchase of Investments - Others %;EB:D% %=DD7BEF>

Dividends received %;;AB<A% %;:CBE@%

Interest received - Others %7BEF% %;:B@C%

3'$%4)50%6"7%(!"89+:5';%<=/%<=@'5$<=?%)4$<@<$<'5%+B/ (1,125.92) (741.28)

(contd.)





Managing Director



Particulars



C. CASH FLOW FROM FINANCING ACTIVITIES

^#0(1/#'3%.$%*.'I83#-/%G.--.H"'IJ %=;DB<F> %=DCB7C>

Finance cost %=;:BC<> %=;:BEC>

Dividend paid %=7?ADEBAD> %=7?:;EBFD>

Tax on dividend %=<A@B:F> %=F7CB<E>

3'$%4)50%6"7%(!"89+:5';%<=/%#=)=4<=?%)4$<@<$<'5%+C/ (3,372.05) (2,415.08)

3'$%<=4!')5'9+;'4!')5'/%<=%C)50%)=;%4)50%'D:<@)E'=$5%+AFBFC/ %=7<CBD:> %=:BC:>

+0#'"'I%N(*(')#%.$% (J! %;?;:EB77% %AE;BF;%

M5568%&.-#R%_("'V=S.JJ>%^#L#-J(*%.$%U` %=7BE7> %7;DB@E%

Adjusted Opening Balance %;?;:@BF:% %;?;:CB::%

*.J"'I%N(*(')#%.$% (J! %EC<B<7% %;?;:EB77%

M5568%&.-#R%_("'V=S.JJ>%.$% ` %=;;DB@7> %=7BE7>

Adjusted Closing Balance %ADABA:% %;?;:@BF:%

(247.50) (0.70)

(J!%('5%G('[%G(*(')#J%(J%0#-%N(*(')#%2!##3%=^#$#-%T.3#%;@> %EC<BDA% %;?;;:BFE%

S#JJ6%N('[%G(*(')#J%'.3%).'J"5#-#5%(J% (J!%('5%)(J!%#ZX"L(*#'3J%

In earmarked accounts

-Unpaid dividends accounts %:B;@% %;B;C%

Cash and cash equivalents at the end of the year* 974.42 1,109.22

*Comprises:

(i) In current accounts %D@;B;7% – %C7DBFD%

(ii) In EEFC accounts %<;FBF:% %7CABAC%

(iii) In demand deposit accounts %;:DB::%

974.42 1,109.22

2##%())./0('1"'I%'.3#J%$.-/"'I%0(-3%.$%3!#%O'(')"(*%J3(3#/#'3J

MPS Limited

CASH FLOW STATT TEAA MENT FOR THE YEAR 01-APRIL-2013 TO 31-MARCH-2014 (contd.)

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39

MPS LIMITED

NOTES FORMING PART OF THE FINANCIAL STA ST ST TEAA MENTS

1. CORPORATE INFORMATION

1.1 Background9U2%S"/"3#5%=a3!#% ./0('1b>%"J%#'I(I#5%"'%3!#%GXJ"'#JJ%.$%0-.L"5"'I%0XG*"J!"'I%J.*X3".'J%L"cB?%310#%J#33"'I%('5%5(3(%5"I"3"c(3".'%J#-L")#J%$.-%.L#-J#(J%0XG*"J!#-J%('5%JX00.-3J%"'3#-'(3".'(*%0XG*"J!#-J%3!-.XI!%#L#-1%J3(I#%.$%3!#%(X3!.-83.8-#(5#-%0XG*"J!"'I%0-.)#JJ%('5%0-.L"5#J%(%5"I"3(*8O-J3%J3-(3#I1%$.-%0XG*"J!#-J%()-.JJ%).'3#'3%0-.5X)3".'?%#'!(')#/#'3%('5%3-('J$.-/(3".'?%5#*"L#-1%('5%)XJ3./#-%JX00.-3B%K!"J%5"I"3(*%$.)XJ%J0('J%()-.JJ%2K9V()(5#/")?%!"I!#-%#5X)(3".'?%3-(5#%('5%5"-#)3.-1%/(-[#3JB

K!#% ./0('1%.Y#-J%(%5"L#-J#%I#.I-(0!")%J0-#(5%H"3!%0-.5X)3".'%$()"*"3"#J%-#I"J3#-#5%X'5#-%3!#%2.$3H(-#%K#)!'.*.I1%U(-[%.$%]'5"(%=2KU]>%J)!#/#%"'% !#''("?%T#H%4#*!"?%_X-I(.'%('5%N#'I(*X-XB%K!#% ./0('1%(*J.%.0#-(3#J%H"3!%.3!#-%0-.5X)3".'%$()"*"3"#J%"'%4#!-(5X'?%T."5(%('5%#5"3.-"(*%('5%/(-[#3"'I%.,)#J%"'%\'"3#5%23(3#J%('5%\'"3#5%d"'I5./B

4X-"'I%3!#%1#(-?%3!#% ./0('1%!(J%"').-0.-(3#5%(%H!.**1%.H'#5%JXGJ"5"(-1%'(/#*1%9U2%T.-3!%M/#-")(%SS %=9U2%TM%SS >%.'%7E%9(1%7:;F?%(J%(%S"/"3#5%S"(G"*"31% ./0('1%X'5#-%3!#%*(HJ%.$%3!#%23(3#%.$%&*.-"5(%"'%3!#%\'"3#5%23(3#J%.$%M/#-")(B%

2. SIGNIFICANT ACCOUNTING POLICIES

GHI B)5<5%"(%)44":=$<=?%)=;%>!'>)!)$<"=%"(%#=)=4<)E%5$)$'8'=$5K!#%O'(')"(*%J3(3#/#'3J%!(L#%G##'%0-#0(-#5%"'%()).-5(')#%H"3!%I#'#-(**1%())#03#5%()).X'3"'I%0-"')"0*#J%"'%]'5"(%=]'5"('%_MMU>%3.%)./0*1%H"3!%3!#%()).X'3"'I%J3('5(-5J%'.3"O#5%X'5#-%2#)3".'%7;;%=F >%.$%3!#% ./0('"#J%M)3?%;ED@%=a3!#%;ED@%M)3b>%=H!")!%).'3"'X#J%3.%G#%(00*")(G*#%"'%-#J0#)3%.$%2#)3".'%;FF%.$%3!#% ./0('"#J%M)3?%7:;F%=a3!#%7:;F%M)3b>%"'%3#-/J%.$%_#'#-(*%)"-)X*(-%;DV7:;F%5(3#5%;F%2#03#/G#-%7:;F%.$%3!#%9"'"J3-1%.$% .-0.-(3#%MY("-J>%('5%3!#%-#*#L('3%0-.L"J".'J%.$%3!#%;ED@%M)3V7:;F%M)3?%(J%(00*")(G*#B%K!#%O'(')"(*%J3(3#/#'3J%!(L#%G##'%0-#0(-#5%G(J#5%.'%())-X(*%G(J"J%X'5#-%3!#%!"J3.-")(*%).J3%).'L#'3".'B%K!#%()).X'3"'I%0.*")"#J%(5.03#5%"'%3!#%0-#0(-(3".'%.$%3!#%O'(')"(*%J3(3#/#'3J%(-#%).'J"J3#'3%H"3!%3!.J#%$.**.H#5%"'%3!#%0-#L".XJ%1#(-B

2.2 Use of estimatesK!#%0-#0(-(3".'%.$%3!#%O'(')"(*%J3(3#/#'3J%"'%).'$.-/"31%H"3!%]'5"('%_MMU%-#ZX"-#J%3!#%9('(I#/#'3%3.%/([#%#J3"/(3#J%('5%(JJX/03".'J%considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during 3!#%1#(-B%K!#%9('(I#/#'3%G#*"#L#J%3!(3%3!#%#J3"/(3#J%XJ#5%"'%0-#0(-(3".'%.$%3!#%O'(')"(*%J3(3#/#'3J%(-#%0-X5#'3%('5%-#(J.'(G*#B%&X3X-#%-#JX*3J%).X*5%5"Y#-%5X#%3.%3!#J#%#J3"/(3#J%('5%3!#%5"Y#-#')#J%G#3H##'%3!#%()3X(*%-#JX*3J%('5%3!#%#J3"/(3#J%(-#%-#).I'"c#5%"'%3!#%0#-".5J%"'%H!")!%3!#%-#JX*3J%(-#%['.H'V/(3#-"(*"c#B

2.3 Inventories]'L#'3.-"#J%)./0-"J"'I%e.-[%"'%U-.)#JJ%-#0-#J#'3"'I%).J3%.$%310#J#33"'I%f%5(3(%5"I"3"c(3".'%J#-L")#J%(-#%L(*X#5%(3%3!#%*.H#-%.$%).J3%('5%'#3%-#(*"c(G*#%L(*X#%.'%H#"I!3#5%(L#-(I#%G(J"JB%K!#%).J3%)./0-"J#J%5"-#)3%).J3%('5%(00-.0-"(3#%0-.0.-3".'%.$%.L#-!#(5JB%

GHJ C)50%)=;%4)50%'D:<@)E'=$5%+("!%>:!>"5'5%"(%C)50%KE"7%L$)$'8'=$/ (J!%)./0-"J#J%)(J!%.'%!('5%('5%5#/('5%5#0.J"3J%H"3!%G('[JB% (J!%#ZX"L(*#'3J%(-#%J!.-383#-/%G(*(')#J%=H"3!%('%.-"I"'(*%/(3X-"31%.$%3!-##%/.'3!J%.-%*#JJ%$-./%3!#%5(3#%.$%()ZX"J"3".'>?%!"I!*1%*"ZX"5%"'L#J3/#'3J%3!(3%(-#%-#(5"*1%).'L#-3"G*#%"'3.%['.H'%(/.X'3J%.$%)(J!%('5%H!")!%(-#%JXGW#)3%3.%"'J"I'"O)('3%-"J[%.$%)!('I#J%"'%L(*X#B%

GHM C)50%6"7%5$)$'8'=$ (J!%g.HJ%(-#%-#0.-3#5%XJ"'I%3!#%"'5"-#)3%/#3!.5?%H!#-#G1%0-.O3V=*.JJ>%G#$.-#%#R3-(.-5"'(-1%"3#/J%('5%3(R%"J%(5WXJ3#5%$.-%3!#%#Y#)3J%.$%3-('J()3".'J%.$%'.'8)(J!%'(3X-#%('5%('1%5#$#--(*J%.-%())-X(*J%.$%0(J3%.-%$X3X-#%)(J!%-#)#"03J%.-%0(1/#'3JB%K!#%)(J!%g.HJ%$-./%.0#-(3"'I?%"'L#J3"'I%('5%O'(')"'I%()3"L"3"#J%.$%3!#% ./0('1%(-#%J#I-#I(3#5%G(J#5%.'%3!#%(L("*(G*#%"'$.-/(3".'B

2.6 Depreciation and Amortization4#0-#)"(3".'%!(J%G##'%0-.L"5#5%.'%3!#%e-"33#'%4.H'%h(*X#%/#3!.5%(J%0#-%3!#%-(3#J%0-#J)-"G#5%"'%2)!#5X*#%i]h%3.%3!#% ./0('"#J%M)3?%;ED@% !" #$%&'%( )# "$%*+%$, %+*--*.&'/%"0$ /*(& )%*+%0)) $)1%&'%.,*) %"0) %$, %-&+ %*+%$, %0)) $)%,0)%2 '%0)) )) 3%0)%4'3 (5

6&7 8)) $)%"*)$&'/%- ))%$,0'%9):%;1<<<% 0",%0( %+4--=%3 #( "&0$ 3%&'%$, %= 0(%*+%"0#&$0-&>0$&*':

6&&7 ?, %"*)$%*+%&@#(*A @ '$)%$*%- 0) ,*-3%#( @&) )%&)%0@*($&> 3%*A (%$, %#(&@0(=%# (&*3%*+%- 0) :

6&&&7 B*@#4$ (%)*+$.0( %*+%$, %#42-&),&'/%)*-4$&*')%24)&' ))%&)%0@*($&> 3%*A (%0%# (&*3%*+%C%$*%;%= 0()1%20) 3%*'%$, %+4$4( % "*'*@&"%2 ' D$)1%0)% )$&@0$ 3%2=%$, %@0'0/ @ '$:

6&A7 E&! 3%0)) $)%-*"0$ 3%0$%$, %2(0'",%&'%F'&$ 3%G$0$ )%*+%8@ (&"0%0( %3 #( "&0$ 3%20) 3%*'%$, &(% )$&@0$ 3%4) +4-%-&+ %0)%+*--*.)5

H I-0'$%J%K0",&' (=%L%;%= 0():

H G*+$.0( %6M'$0'/&2- 7%L%;%= 0():

H E4('&$4( %J%E&!$4( )%L%N%= 0():

If the Management’s estimate of the useful life of the tangible asset at the time of acquisition of the asset or of the remaining useful life on 0%)42) O4 '$%( A& .%&)%),*($ (%$,0'%$,0$% 'A&)0/ 31%3 #( "&0$&*'%&)%#(*A&3 3%0$%0%,&/, (%(0$ %20) 3%*'%$, %@0'0/ @ '$Q)% )$&@0$ %%*+%$, %4) +4-%-&+ R( @0&'&'/%4) +4-%-&+ :



?, % )$&@0$ 3%4) +4-% -&A )%*+%$, % &'$0'/&2- %0)) $)%0'3%$, %0@*($&>0$&*'%# (&*3%0( %( A& . 3%0$%$, % '3%*+% 0",%D'0'"&0-%= 0(%0'3%$, %3 #( "&0$&*'R0@*($&>0$&*'%&)%( A&) 3%$*%( S "$%$, %",0'/ 3%#0$$ (':%

2.7 Revenue recognition9 A '4 %&)%( "*/'&> 3%*'%3 -&A (=%*+%#(*T "$)%*(%0)%# (%$ (@)%)# "&D 3%&'%"*'$(0"$)R#4(",0) %*(3 ()%( " &A 3%+(*@%"4)$*@ ():

9 A '4 )%+*(%. 2U)&$ %3 )&/'%0'3%3 A -*#@ '$%0( %( "*/'&> 3%20) 3%*'%$, %# (" '$0/ %*+%"*@#- $&*'%*+%$, %#(*T "$:%9 A '4 )%+(*@%. 2U)&$ %,*)$&'/%0( %( "*/'&> 3%(0$02-=%*A (%$, %= 0(%+*(%.,&",%$, %)&$ %&)%,*)$ 3:

2.8 Other incomeM'$ ( )$%&'"*@ %&)%0""*4'$ 3%*'%0""(40-%20)&):%V&A&3 '3%&'"*@ %&)%0""*4'$ 3%+*(%., '%$, %(&/,$%$*%( " &A %&$%&)% )$02-&), 3:

9 '$0-%M'"*@ %&)%( "*/'&> 3%0)%# (%"*'$(0"$40-%$ (@):

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

7.8$+.3(9:;<=$/=8;:>&**?

I(*T "$)%4'3 (%.,&",%0)) $)%0( %'*$%( 03=%+*(%$, &(%&'$ '3 3%4) %0'3%*$, (%"0#&$0-%.*(WU&'U#(*/( ))%0( %"0((& 3%0$%"*)$1%"*@#(&)&'/%3&( "$%"*)$1%( -0$ 3%&'"&3 '$0-% !# ') )%0'3%0$$(&24$02- %&'$ ( )$:

2.10 Foreign currency transactions and translations?(0')0"$&*')%&'%+*( &/'%"4(( '"& )% '$ ( 3%&'$*%2=%$, %B*@#0'=%0'3%&$)%&'$ /(0-%+*( &/'%*# (0$&*')%0( %0""*4'$ 3%0$%$, % !",0'/ %(0$ )%#( A0&-&'/%*'%$, %30$ %*+%$, %$(0')0"$&*'%*(%0$%(0$ )%$,0$%"-*) -=%0##(*!&@0$ %$, %(0$ %0$%$, %30$ %*+%$, %$(0')0"$&*':

E*( &/'%"4(( '"=%@*' $0(=%&$ @)%6*$, (%$,0'%3 (&A0$&A %"*'$(0"$)7%*+%$, %B*@#0'=%0'3%&$)%&'$ /(0-%+*( &/'%*# (0$&*')%*4$)$0'3&'/%0$%$, %20-0'" %), $%30$ %0( %( )$0$ 3%0$%$, %= 0(U '3%(0$ ):%X*'U@*' $0(=%&$ @)%0( %"0((& 3%0$%,&)$*(&"0-%"*)$:

Y!",0'/ %3&Z ( '" )%0(&)&'/%*'%) $$- @ '$R( )$0$ @ '$%*+%+*( &/'%"4(( '"=%@*' $0(=%0)) $)%0'3%-&02&-&$& )%*+%$, %B*@#0'=%0( %( "*/'&> 3%0)%&'"*@ %*(% !# ') %&'%$, %G$0$ @ '$%*+%I(*D$%0'3%[*)):

Accounting of forward contracts

I( @&4@R3&)"*4'$%*'%+*(.0(3% !",0'/ %"*'$(0"$)1%.,&",%0( %'*$%&'$ '3 3%+*(%$(03&'/%*(%)# "4-0$&*'%#4(#*) )1%0( %0@*($&> 3%*A (%$, %# (&*3%*+%$, %"*'$(0"$)%&+%)4",%"*'$(0"$)%( -0$ %$*%@*' $0(=%&$ @)%0)%0$%$, %\0-0'" %G, $%30$ :%%

9 + (% X*$ % C:]^% +*(% 0""*4'$&'/% +*(% +*(.0(3% !",0'/ % "*'$(0"$)% ( -0$&'/% $*% +&(@% "*@@&$@ '$)% 0'3% ,&/,-=% #(*202- % +*( "0)$%$(0')0"$&*'):

2.11 Investments[*'/U$ (@%&'A )$@ '$)%0( %"0((& 3%&'3&A&340--=%0$%"*)$%- ))%#(*A&)&*'%+*(%3&@&'4$&*'1%*$, (%$,0'%$ @#*(0(=1%&'%$, %A0-4 %*+%)4",%&'A )$@ '$):%B4(( '$%&'A )$@ '$)%0( %"0((& 3%&'3&A&340--=1%0$%$, %-*. (%*+%"*)$%0'3%+0&(%A0-4 :%B*)$%*+%&'A )$@ '$)%&'"-43 )%0"O4&)&$&*'%",0(/ )%)4",%0)%2(*W (0/ 1%+ )%0'3%34$& ):%

!@ AB83:C&&(1&/&D+*Y@#-*= %2 ' D$)%&'"-43 %"*'$(&24$&*'%$*%I(*A&3 '$%+4'31%G4# (0''40$&*'%+4'31%_(0$4&$=%+4'31%B*@# ')0$ 3%02) '" )%0'3%Y@#-*= %G$0$ %M')4(0'" %)", @ :

!"#!$%&'#()*+,(*'#%-./#0

?, %B*@#0'=Q)%"*'$(&24$&*'%$*%#(*A&3 '$% +4'31%)4# (0''40$&*'%+4'3%0'3% @#-*= %)$0$ % &')4(0'" %)", @ %0( %"*')&3 ( 3%0)%3 D' 3%"*'$(&24$&*'%#-0')%0'3%0( %",0(/ 3%0)%0'% !# ') %0)%$, =%+0--%34 %20) 3%*'%$, %0@*4'$%*+%"*'$(&24$&*'%( O4&( 3%$*%2 %@03 %0'3%., '%) (A&" )%( '3 ( 3%2=%$, % @#-*= ):

!"#!$%+!#!"(%-./#0

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


41

23')(4(!)5%!5-.'6!!%+!#!"(0

?, %4'3&)"*4'$ 3%0@*4'$%*+% ),*($U$ (@% @#-*= %2 ' D$)% !# "$ 3% $*%2 %#0&3% &'% !",0'/ % +*(% $, % ) (A&" )% ( '3 ( 3%2=% @#-*= )%0( %( "*/'&> 3%34(&'/%$, %= 0(%., '%$, % @#-*= )%( '3 (%$, %) (A&" :%?, ) %2 ' D$)%&'"-43 %# (+*(@0'" %&'" '$&A %0'3%"*@# ')0$ 3%02) '" )%.,&",%0( % !# "$ 3%$*%*""4(%.&$,&'%$. -A %@*'$,)%0+$ (%$, % '3%*+%$, %# (&*3%&'%.,&",%$, % @#-*= %( '3 ()%$, %( -0$ 3%) (A&" :%The cost of such compensated absences is accounted as under:

607 M'% "0) %*+%0""4@4-0$ 3%"*@# ')0$ 3%02) '" )1%., '% @#-*= )% ( '3 (% $, % ) (A&" )% $,0$% &'"( 0) % $, &(% '$&$- @ '$%*+% +4$4( %compensated absences; and

627 M'%"0) %*+%'*'U0""4@4-0$&'/%"*@# ')0$ 3%02) '" )1%., '%$, %02) '" )%*""4(:'" )%*""4('" )%*""4(

7'#84(!)5%!5-.'6!!%+!#!"(0

B*@# ')0$ 3%02) '" )%.,&",%0( %'*$% !# "$ 3%$*%*""4(%.&$,&'%$. -A %@*'$,)%0+$ (%$, % '3%*+%$, %# (&*3%&'%.,&",%$, % @#-*= %( '3 ()%$, %( -0$ 3%) (A&" %0( %( "*/'&> 3%0)%0%-&02&-&$=%0$%$, %#( ) '$%A0-4 %*+%$, %3 D' 3%2 ' D$%*2-&/0$&*'%0)%0$%$, %\0-0'" %G, $%30$ %- ))%$, %+0&(%A0-4 %*+%$, %#-0'%0)) $)%*4$%*+%.,&",%$, %*2-&/0$&*')%0( % !# "$ 3%$*%2 %) $$- 3:

2.13 Leases[ 0) %0((0'/ @ '$)%., ( %$, %(&)W)%0'3%( .0(3)%&'"&3 '$0-%$*%*.' (),&#%*+%0'%0)) $%)42)$0'$&0--=%A )$%.&$,%$, %- ))*(%0( %( "*/'&> 3%0)%*# (0$&'/%- 0) ):%[ 0) %( '$0-)%4'3 (%*# (0$&'/%- 0) )%0( %( "*/'&> 3%&'%$, %G$0$ @ '$%*+%I(*D$%0'3%[*))%*'%0%)$(0&/,$U-&' %20)&):

2.14 Earnings per share\0)&"% 0('&'/)%# (%),0( %&)%"*@#4$ 3%2=%3&A&3&'/%$, %#(*D$R6-*))7%0+$ (%$0!%6&'"-43&'/%$, %#*)$U$0!% Z "$%*+% !$(0*(3&'0(=%&$ @)1%&+%0'=7%2=%$, %. &/,$ 3%0A (0/ %'4@2 (%*+% O4&$=%),0( )%*4$)$0'3&'/%34(&'/%$, %= 0(:

2.15 Taxes on incomeB4(( '$%$0!%&)%$, %0@*4'$%*+%$0!%#0=02- %*'%$, %$0!02- %&'"*@ %+*(%$, %= 0(%0)%3 $ (@&' 3%&'%0""*(30'" %.&$,%$, %#(*A&)&*')%*+%$, %M'"*@ %?0!%8"$1%]à]%0'3%0##-&"02- %+*( &/'%$0!%-0.):

K&'&@4@%8-$ ('0$ %?0!%6K8?7%#0&3%&'%0""*(30'" %.&$,%$, %$0!%-0.)1%.,&",%/&A )%+4$4( % "*'*@&"%2 ' D$)%&'%$, %+*(@%*+%03T4)$@ '$%$*%+4$4( %&'"*@ %$0!%-&02&-&$=1%&)%"*')&3 ( 3%0)%0'%0)) $%&+%$, ( %&)%"*'A&'"&'/% A&3 '" %$,0$%$, %B*@#0'=%.&--%#0=%'*(@0-%&'"*@ %$0!:%8""*(3&'/-=1%K8?%&)%( "*/'&> 3%0)%0'%0)) $%&'%$, %\0-0'" %G, $%., '%&$%&)%#(*202- %$,0$%+4$4( % "*'*@&"%2 ' D$%0))*"&0$ 3%.&$,%&$%.&--%S*.%$*%$, %B*@#0'=:

V + (( 3% $0!% &)% ( "*/'&> 3% *'% $&@&'/%3&Z ( '" )1% 2 &'/% $, % 3&Z ( '" )% 2 $. '% $, % $0!02- % &'"*@ %0'3% $, % 0""*4'$&'/% &'"*@ % $,0$%*(&/&'0$ %&'%*' %# (&*3%0'3%0( %"0#02- %*+%( A ()0-%&'%*' %*(%@*( %)42) O4 '$%# (&*3):%V + (( 3%$0!%&)%@ 0)4( 3%4)&'/%$, %$0!%(0$ )%0'3%$, %$0!%-0.)% '0"$ 3%*(%)42)$0'$&A -=% '0"$ 3%0)%0$%$, %( #*($&'/%30$ :%V + (( 3%$0!%-&02&-&$& )%0( %( "*/'&> 3%+*(%0--%$&@&'/%3&Z ( '" ):%V + (( 3%$0!%0)) $)% &'%( )# "$%*+%4'02)*(2 3%3 #( "&0$&*'%0'3%"0((=%+*(.0(3%*+% -*)) )%0( %( "*/'&> 3%*'-=% &+%$, ( %&)%A&($40-%" ($0&'$=%$,0$%$, ( %.&--%2 %)4b"& '$%+4$4( %$0!02- %&'"*@ %0A0&-02- %$*%( 0-&> %)4",%0)) $):%V + (( 3%$0!%0)) $)%0( %( "*/'&> 3%+*(%$&@&'/%3&Z ( '" )%*+%*$, (%&$ @)%*'-=%$*%$, % !$ '$%$,0$%( 0)*'02- %" ($0&'$=% !&)$)%$,0$%)4b"& '$%+4$4( %$0!02- %&'"*@ %.&--%2 %0A0&-02- %0/0&')$%.,&",%$, ) %"0'%2 %( 0-&> 3:%V + (( 3%$0!%0)) $)%0'3%-&02&-&$& )%0( %*Z) $%&+%)4",%&$ @)%( -0$ %$*%$0! )%*'%&'"*@ %- A& 3%2=%$, %)0@ %/*A ('&'/%$0!%-0.)%0'3%$, %B*@#0'=%,0)%0%- /0--=% '+*(" 02- %(&/,$%+*(%)4",%) $%*Z:%V + (( 3%$0!%0)) $)%0( %( A& . 3%0$% 0",%\0-0'" %G, $%30$ %+*(%$, &(%( 0-&)02&-&$=:%

2.16 Impairment of assets?, %"0((=&'/%A0-4 )%*+%0)) $)R"0),%/ ' (0$&'/%4'&$)%0$% 0",%\0-0'" %G, $%30$ %0( %( A& . 3%+*(%&@#0&(@ '$:%M+%0'=%&'3&"0$&*'%*+%&@#0&(@ '$% !&)$)1%$, %( "*A (02- %0@*4'$%*+%)4",%0)) $)%&)% )$&@0$ 3%0'3%&@#0&(@ '$%&)%( "*/'&> 31%&+%$, %"0((=&'/%0@*4'$%*+%$, ) %0)) $)% !" 3)%$, &(%( "*A (02- %0@*4'$:%?, %( "*A (02- %0@*4'$% &)% $, %/( 0$ (%*+% $, %' $%) --&'/%#(&" %0'3%$, &(%A0-4 % &'%4) :%c0-4 % &'%4) % &)%0((&A 3%0$%2=%3&)"*4'$&'/%$, %+4$4( %"0),%S*.)%$*%$, &(%#( ) '$%A0-4 %20) 3%*'%0'%0##(*#(&0$ %3&)"*4'$%+0"$*(:%d, '%$, ( %&)%&'3&"0$&*'%$,0$%0'%&@#0&(@ '$%-*))%( "*/'&> 3%+*(%0'%0)) $%&'% 0(-& (%0""*4'$&'/%# (&*3)%'*%-*'/ (% !&)$)%*(%@0=%,0A %3 "( 0) 31%)4",%( A ()0-%*+%&@#0&(@ '$%-*))%&)%( "*/'&> 3%&'%$, %G$0$ @ '$%*+%I(*D$%0'3%[*))1% !" #$%&'%"0) %*+%( A0-4 3%0)) $):

2.17 Provisions and contingencies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

2.18 Derivative contracts?, %B*@#0'=% '$ ()%&'$*%3 (&A0$&A %"*'$(0"$)%&'%$, %'0$4( %*+%+*( &/'%"4(( '"=%+*(.0(3%"*'$(0"$)%.&$,%0'%&'$ '$&*'%$*%, 3/ %&$)% !&)$&'/%0)) $)%0'3% -&02&-&$& )1%D(@%"*@@&$@ '$)%0'3%,&/,-=%#(*202- % $(0')0"$&*'):%V (&A0$&A %"*'$(0"$)%.,&",%0( %"-*) -=% -&'W 3% $*% $, % !&)$&'/%0)) $)%0'3%-&02&-&$& )%0( %0""*4'$ 3%0)%# (%$, %#*-&"=%)$0$ 3%+*(%E*( &/'%B4(( '"=%?(0')0"$&*')%0'3%?(0')-0$&*'):%

8--%*$, (%3 (&A0$&A %"*'$(0"$)%0( %@0(W 3U$*U@0(W $%0'3%-*)) )%0( %( "*/'&> 3%&'%$, %G$0$ @ '$%*+%I(*D$%0'3%[*)):%_0&')%0(&)&'/%*'%$, %)0@ %0( %'*$%( "*/'&> 31%4'$&-%( 0-&> 31%*'%/(*4'3)%*+%#(43 '" :

2.19 Service tax input creditG (A&" %$0!%&'#4$%"( 3&$%&)%0""*4'$ 3%+*(%&'%$, %2**W)%&'%$, %# (&*3%&'%.,&",%$, %4'3 (-=&'/%) (A&" %( " &A 3%&)%0""*4'$ 3%0'3%., '%$, ( %&)%'*%4'" ($0&'$=%&'%0A0&-&'/R4$&-&>&'/%$, %"( 3&$):

2.20 Operating Cycle\0) 3%*'%$, %'0$4( %*+%) (A&" )R0"$&A&$& )%$, %B*@#0'=%,0)%3 $ (@&' 3%&$)%*# (0$&'/%"="- %0)%]C%@*'$,)%+*(%$, %#4(#*) %*+%"-0))&D"0$&*'%*+%&$)%0)) $)%0'3%-&02&-&$& )%0)%"4(( '$%0'3%'*'U"4(( '$:



Note 3 Share capital

As at 31-Mar-2014 As at 31-Mar-2013

Particulars

Number of shares

Amount in INR Lacs

Number of shares

Amount in INR Lacs

(a) Authorised share capital

YO4&$=%),0( )%*+%9):]<RU% 0",%.&$,%A*$&'/%(&/,$) C<<1<<1<<< C1<<<:<< C<<1<<1<<< C1<<<:<<C<<1<<1<<< C1<<<:<< C<<1<<1<<< C1<<<:<<C<<1<<1<<< C1<<<:<< C<<1<<1<<< C1<<<:<<

(b) Issued, Subscribed and fully paid up share capital

YO4&$=%),0( )%*+%9):]<RU% 0",%.&$,%A*$&'/%(&/,$) ]a^1CC1aa^ ]1a^C:CN ]a^1CC1aa^ ]1a^C:CN]a^1CC1aa^ ]1a^C:CN ]a^1CC1aa^ ]1a^C:CN

Total 1,682.27 1,682.27


Particulars

Number of shares

Amount in INR Lacs

Number of shares

Amount in INR Lacs

AEF$+C(*G.;&*(,9$+G(H:+$/0(;$0G+*6

8$%$, %2 /&''&'/%*+%$, %= 0( ]a^1CC1aa^ %]1a^C:CN ]a^1CC1aa^ %]1a^C:CN]a^1CC1aa^ %]1a^C:CN ]a^1CC1aa^ %]1a^C:CN]a^1CC1aa^ %]1a^C:CN ]a^1CC1aa^ %]1a^C:CN]a^1CC1aa^ %]1a^C:CN ]a^1CC1aa^ %]1a^C:CN

8335%E( ),%&))4 R24=20"W%*+%),0( ) – – – –

8$%$, % '3%*+%$, %= 0( ]a^1CC1aa^ ]1a^C:CN ]a^1CC1aa^ ]1a^C:CN]a^1CC1aa^ ]1a^C:CN ]a^1CC1aa^ ]1a^C:CN


Particulars Number of shares Number of shares

8VM%\Ie%G (A&" )%[&@&$ 31%$, %,*-3&'/%"*@#0'= ]Ca1]a1`à ]Ca1]a1`à


Class of shares/Name of shareholderNumber of shares held

% holding in that class of shares

Number of shares held


YO4&$=%),0( )%8VM%\Ie%G (A&" )%[&@&$ 3 ]Ca1]a1`à N;:<<f ]Ca1]a1`à N;:<<f

Notes:

(i) Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the reporting period:

,$$6 -&;B*4;$0G+*(.++.>G&'(+:(&EF$+C(*G.;&*

?, %B*@#0'=%,0)%*'-=%*' %"-0))%*+% O4&$=%),0( )%,0A&'/%0%#0(%A0-4 %*+%MX9%]<R%# (%),0( :%Y0",%,*-3 (%*+% O4&$=%),0( )%&)% '$&$- 3%$*%*' %A*$ %# (%),0( :%M'%$, % A '$%*+%-&O4&30$&*'%*+%$, %B*@#0'=1%$, %,*-3 ()%*+% O4&$=%),0( )%.&--%2 % '$&$- 3%$*%( " &A %0'=%*+%$, %( @0&'&'/%0)) $)%*+%$, %B*@#0'=1%0+$ (%3&)$(&24$&*'%*+%0--%#( + ( '$&0-%0@*4'$:%?, %3&)$(&24$&*'%.&--%2 %&'%#(*#*($&*'%$*%'4@2 (%*+% O4&$=%),0( )%, -3%2=%$, %),0( ,*-3 ():

(iii) Details of shares held by the holding company, the ultimate holding company, their subsidiaries and associates:

AEF$+C(*G.;&*(9$+G(H:+$/0(;$0G+*

(iv) Details of shares held by each shareholder holding more than 5% shares:


43

As at 31-Mar-2014

As at 31-Mar-2013

Particulars INR in Lacs INR in Lacs

607%_ ' (0-%( ) (A 5

Opening balance %gCN:a]% %]<^:N]%

8335%?(0')+ (( 3%+(*@%)4(#-4)%&'%G$0$ @ '$%*+%I(*D$%0'3%[*)) %ghg:gg% %h]^:`<%

Closing balance %âC:<;% %gCN:a]%

627%G4(#-4)%&'%G$0$ @ '$%*+%I(*D$%0'3%[*))5

Opening balance %a1];g:NN% %;1Ch`:^h%

8335%I(*D$%+*(%$, %= 0( %g1hgg:gg% %h1]^`:<C%

Less: Interim dividend %C1^;`:^;% %]1a^C:CN%

Tax on dividends %gâ:<h% %CNC:`]%

Transferred to general reserve %ghg:gg% %h]^:`<%

B-*)&'/%\0-0'" %a1N]^:^`% %a1];g:NN%

7,580.94 6,582.38

Note 4 Reserves and surplus

I:+&(J(K:/0=+&;B(1:;;:9$/0*



[*'/U$ (@%G "4( 3%-*0')%+(*@%\0'W%69 + (%'*$ %6&7%2 -*.7 ]:^< ]C:g;

1.80 12.45



[*'/U$ (@%G "4( 3%-*0')%+(*@%\0'W N:hC CC:N;

9 #0=02- %*A (%0%# (&*3%*+%ha%@*'$,-=%&')$0--@ '$)%.&$,%&'$ ( )$%*+%`:N;f%$*%]g:;<f%#:0:1%c ,&"- )%#4(",0) 3%0/0&')$%$, ) %-*0')%0( %*Z ( 3%0)%) "4(&$=

[ ))5%B4(( '$%K0$4(&$& )%*+%[*'/U$ (@%G "4( 3%-*0')%+(*@%\0'W%68)%# (%X*$ %`7 ;:;C ]<:h<

Total 1.80 12.45

,$6(L&+.$3*(:M(+&;B*(:M(;&8.CB&/+(M:;(+G&(3:/0=+&;B(1:;;:9$/0*($/>3F'$/0(7F;;&/+(N.+F;$+$&*(,O&M&;(I:+&("6(./'(*&>F;$+C(8;:H$'&'!

Note 6 Other long-term liabilities



Rent-equalisation reserve N:gC `:]<

7.42 9.10



I:+&(P(QG:;+=+&;B(1:;;:9$/0*

Note 8 Trade payables

Note 9 Other current liabilities



Unsecured Loan haC:a` gg<:Ng

362.69 440.74



?(03 %#0=02- )%U%e$, (%$,0'%0"" #$0'" ) %]1gh^:]<% %]1`g^:hC

1,438.10 1,948.32



607%B4(( '$%@0$4(&$& )%*+%) "4( 3%-*0'%69 + (%X*$ %;7 ;:;C %]<:h<%

(b) Income received in advance (Unearned revenue) !"#$ % "!&%

(c) Unclaimed dividends* '"() %("(*%

(d) Rental Deposits (''"++ %(++"#)%

,-.%/001%23-454678 $)"*( %*)"##%

(f) Interest accrued but not due +)"** %('$"#'%

,9.%28:-4%;6<6=>-?@

,A.%B868C804<%4-DA886EF-?%,G0E84A=C8A0E?%80%HI%6E5%JBKGL%MA8::0>5AE9%%%%%N6O-?L%QRNL%B-43AF-%N6OL%-8F".

(+&"+) %('$"#!%

,AA.%H6<6=>-?%0E%;C4F:6?-%07%SO-5%6??-8? +!")* %( " '%

,AAA.%R536EF-?%740D%FC?80D-4? !#"(! %!$ "($%

(iv) Others:

,A.%R536EF-%4-F-A3-5%696AE?8%;40;0?-5%?6>-%07%IAO-5%R??-8? – %$&" !%

,AA.%G0D;-E?68-5%R=?-EF-? – %(#")!%

,AAA.%T468CA8< %! " *% %!)"#*%

(iv) Others %(+"$#% %#")'%

521.60 895.63

UN:-4-%A?%E0%6D0CE8%76>>AE9%5C-%6?%68%8:-%/6>6EF-%B:--8%568-%80%=-%F4-5A8-5%80%%8:-%KE3-?804%J5CF68A0E%6E5%H408-F8A0E%ICE5%6E5%8:-%6=03-%6D0CE8%4-;4-?-E8?%VA3A5-E5%M6446E8?%A??C-5%=C8%E08%-EF6?:-5%6E5%-OF>C5-?%CE-EF6?:-5%5-D6E5%54678?%07%KWX%!("*'%Y6F?%,HZ%[%KWX%!&"&&%Y6F?."

Note 10 Short-term provisions



H403A?A0E%704%86O%,E-8%07%;6<D-E8?. (' "$! %()"&'

109.42 16.80


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(40

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(51

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(15

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(2,6

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(30

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(65

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(42

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(21

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33

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43

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1

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(4,2

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55

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) (2

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4

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U%Y6E5%6E5%/CA>5AE9?%AEF>C5-%;40;-48<%>0F68-5%68%/-E96>C4C%,_

]T%RD=6??6504.%68%6%F0?8%07%KWX%$''%>6F?%6E5%KW

X%(L!(+%>6F?%4-?;-F8A3-><"%N:-%8A8>-%80%8:A?%;40;-48<%A?%`0AE8><%:->5%Â8:%08:-4%F0[0Ê-4?%AE%8:-%

E6D-%07%_]T%RD=6??6504%H40;-48<%]6E69-D-E8%H4A368-%YADA8-5L%4-;4-?-E8-5%=<%(L$*L#'L'''%-aCA8<%?:64-?%07%KWX%('b[%-6F:%4-;4-?-E8AE9%8:-%36>C-%07%>6E5%6E5%=CA>5AE9?%Â8:%A44-30F6=>-%4A9:8%07%;-4D

6E-E8%

0FFC;68A0E"

IA9C4-?%AE%=46F1-8?%4->68-%80%;4-3A0C?%<-64

INR

in

La

cs



Note 13 Long-term loans and advances



,6.%B-FC4A8<%5-;0?A8?

% % cE?-FC4-5L%F0E?A5-4-5%9005%,X-7-4%W08-%=->0^. %+**" #% %$'*"#*%

Doubtful %)'"''% %+"&&%

%$+*" #% %$(("$#%

Less: Provision for doubtful deposits %)'"''% %+"&&%

%+**" #% %$'*"#*%

,=.%H4-;6A5%-O;-E?-?%[%cE?-FC4-5L%F0E?A5-4-5%9005

% "&(% %(+"#&%

,F.%R536EF-%AEF0D-%86O%,E-8%07%;403A?A0E?.

%((*"!*% %&+" )%

,5.%/6>6EF-?%Â8:%903-4ED-E8%6C8:04A8A-?%[%cE?-FC4-5L%F0E?A5-4-5%9005

,A.%QRN%4-7CE5%4-F-A36=>-

,AA.%B-43AF-%N6O%F4-5A8%4-F-A36=>- %)"#!% %)"#!%

%(L#)*"()% %(L!&)"*&%

(e) Others

% % cE?-FC4-5L%F0E?A5-4-5%9005 – –

Doubtful %(#"*)% %(#"*)%

%(#"*)% %(#"*)%

Less: Provision for doubtful loans and advances %(#"*)% %(#"*)%

– –

2,078.71 1,798.41

Note:KEF>C5-?%KWX%(''%Y6F?%,R?%68%+([]64[!'(+%KWX%(''%Y6F?.%;>6F-5%Â8:%:0>5AE9%F0D;6E<%,RVK%/H2%B-43AF-?%Y85".%6?%4-E86>%5-;0?A8"

Note 14 Other non-current assets



/6>6EF-?%:->5%6?%D649AE%D0E-<%04%?-FC4A8<%696AE?8%9C646E8--? %($"+#% %(*"+$%

14.35 17.34

Note 12 Non-current investments



Investments (At cost):

Trade

% %KE3-?8D-E8%AE%-aCA8<%AE?84CD-E8?%07%?C=?A5A64<%(&L'''%cEA8?%,R?%68%+([]64[!'(+@%WA>.%07%cBV%(''%-6F:%7C>><%;6A5%C;%07%]HB%W048:%RD-4AF6%YYGL%cBR

%(L'$*"!$% –

Total - Trade 1,047.24Total - Trade 1,047.24 –


47

Note 16 Inventories,R8%>0^-4%07%F0?8%6E5%E-8%4-6>A?6=>-%36>C-.

Note 15 Current investments

Note 17 Trade receivables (Unsecured)



M041[AE[;40F-??%,G0?8%07%8<;-[?-88AE9%6E5%V686%VA9A8Ad68A0E%AE%;4094-??. *&!"* %&& "##%

782.79 889.55



Trade receivable for a period exceeding six months

Considered good %)+"##% %+("+)%

Doubtful %('"!)% %($#"#*%

73.81 176.93

Less: Provision for doubtful trade receivables %('"!)% %($#"#*%

63.55 31.36

Other Trade receivables

Considered good %!L&(&"'&% %!L $&"*!%

Doubtful %(+"+(% –

2,831.39 2,948.72

Less: Provision for doubtful trade receivables %(+"+(% –

2,818.08 2,948.72

2,881.63 2,980.08

As at 31-Mar-2014

As at 31-Mar-2014

As at 31-Mar-2013

As at 31-Mar-2013

Particulars Units in ’000 INR in Lacs Units in ’000 INR in Lacs

Investment in mutual funds

/A4>6%BCE%YA7-%G6?:%H>C?%[%V6A><%VA3A5-E5%X-9C>64%H>6E – – %(&&"! % %(&&"))%%(&&"! % %(&&"))%

/A4>6%BCE%YA7-%B63AE9?%ICE5%%[%V6A><%VA3A5-E5%X-9C>64%H>6E – – %+'+"!!% %+'+"#(%%+'+"!!% %+'+"#(%

/A4>6%BCE%YA7-%G6?:%H>C?%[%V6A><%VA3A5-E5%VA4-F8%H>6E %$)+"#)% %$)$"$#%%$)+"#)% %$)$"$#% – –

KGKGK%H4C5-E8A6>%YAaCA5%[%X-9C>64%H>6E%[%V6A><%VA3A5-E5 – – %+')"$!% %+')"$ %%+')"$!% %+')"$ %

e0861%YAaCA5%,KE?8A8C8A0E6>.%[%V6A><%VA3A5-E5U – – %!#"+$% %+' "&)%%!#"+$% %+' "&)%

e0861%YAaCA5%BF:-D-%H>6E%R%[%VA4-F8%H>6E[%V6A><%VA3A5-E5U %!(" #% %!)&"!#%e0861%YAaCA5%BF:-D-%H>6E%R%[%VA4-F8%H>6E[%V6A><%VA3A5-E5U %!(" #% %!)&"!#% %'")+% %*")&%

X->A6EF-%YAaCA5A8<%ICE5%[%V6A><%VA3A5-E5 – – %+'")+% %+')"$&%%+'")+% %+')"$&%

VMB%c>846%B:048%N-4D%ICE5%[%KE?8A8C8A0E6>%H>6E%[%V6A><%Dividend

– – %("*'% %'"(*%

VMB%c>846%B:048%N-4D%ICE5%[%VA4-F8%H>6E[%V6A><%VA3A5-E5 %(L$ *"+!% %(#'"''%VMB%c>846%B:048%N-4D%ICE5%[%VA4-F8%H>6E[%V6A><%VA3A5-E5 %(L$ *"+!% %(#'"''% – –

cNK[N4-6?C4<%R536E869-%ICE5%[%KE?8A8C8A0E6>%H>6E%[%VA4-F8%H>6E%[%V6A><%VA3A5-E5

– – %(#"'!% %(#'"!*%%(#"'!% %(#'"!*%

X->A6EF-%IAO-5%_04Ad0E%ICE5[ffKKK%B-4A-?%*%T40^8:%H>6E %!L'''"''% %!''"''% %!L'''"''% %!''"''%X->A6EF-%IAO-5%_04Ad0E%ICE5[ffKKK%B-4A-?%*%T40^8:%H>6E %!L'''"''% %!''"''% %!L'''"''% %!''"''%

X->A6EF-%YAaCA5%ICE5%[%N4-6?C4<%H>6E%[%V6A><%VA3A5-E5 %!*"#&% %$!("+*%%!*"#&% %$!("+*% – –

ROA?%N4-6?C4<%R536E869-%ICE5%[%VA4-F8%H>6E%[%V6A><%VA3A5-E5 %!$"&&% %!#'"''%ROA?%N4-6?C4<%R536E869-%ICE5%[%VA4-F8%H>6E%[%V6A><%VA3A5-E5 %!$"&&% %!#'"''% – –

%$L'+#"! % %(L*#$"'*% %!L&*("!#% %(L**+"(!%%$L'+#"! % %(L*#$"'*% %!L&*("!#% %(L**+"(!%

R994-968-%D641-8%36>C-%07%aC08-5%AE3-?8D-E8? 1,773.21 1,773.49

U]C8C6>%ICE5%cEA8?%36>C-5%g%X?"%!''%Y61:?%,H4-3A0C?%Z-64[%X?"%!''%Y61:?.%;>-59-5%Â8:%e0861%]6:AE546%/6E1%6?%B-FC4A8<%80^645?%_-59AE9%76FA>A8A-?%636A>-5%=<%8:-%G0D;6E<"



Note 18 Cash and cash equivalents

Note 20 Other current assets

Note 19 Short-term loans and advances

As at 31-Mar-2014

As at 31-Mar-2013


(a) Interest accrued on deposits %'"+#% %'"*)%

,=.%X-F-A36=>-?%0E%?6>-%07%SO-5%6??-8? %("((% %!+"''%

,F.%IAO-5%6??-8?%:->5%704%?6>-%,X-7-4%W08-%((. – % !"# %

(d) Others %("+$% %!"#!%

2.80 118.87



/6>6EF-?%Â8:%=6E1?

(i) In current accounts #)("(!% *!#"+#%

(ii) In EEFC accounts %$(+"+'% %!*&"&*%

(iii) In demand deposit accounts – %('#"''%

(iv) Unclaimed dividend accounts %'"()% %("(*%

974.58 1,110.39

2C8%07%8:-%6=03-%8:-%=6>6EF-?%8:68%D--8%8:-%5-SEA8A0E%07%G6?:%6E5%G6?:%-aCA36>-E8?%6?%;-4%RB%+%G6?:%I>0^%B868-D-E8%A?@% % *$"$!% %(L(' "!!



,6.%B-FC4A8<%V-;0?A8? %("#)% %( )"+$%

Doubtful %("$)% %(*"!*%

%+"'!% %!(+")(%

Less: Provision for doubtful deposits %("$)% %(*"!*%

%("#)% %( )"+$%

,=.%Y06E?%6E5%6536EF-?%80%-D;>0<--?

% % cE?-FC4-5L%F0E?A5-4-5%9005 % "$*% %!'"!*%

Doubtful %('"(*% %()"''%

%( ")$% %+)"!*%

Less: Provision for doubtful loans and advances %('"(*% %()"''%

% "$*% %!'"!*%

(c) Prepaid expenses %(&("$&% %&$"+#%

,5.%]RN%F4-5A8%-E8A8>-D-E8% – %! !"+$%

,-.%/6>6EF-?%Â8:%903-4ED-E8%6C8:04A8A-?%

% % ,A.%QRN%F4-5A8%4-F-A36=>- %#"#!% %#")!%

% % ,AA.%B-43AF-%N6O%4-7CE5%4-F-A36=>- – %!("!#%

%#"#!% %!)"&*%

(f) Others

% % cE?-FC4-5L%F0E?A5-4-5%9005 %!#"*#% %+*"!'%

223.78 657.37


49

Note 21 Revenue from operations

For the year ended 31-Mar-2014



B6>-%07%?-43AF-?

%,A.%JO;048?%,J64EAE9?%AE%I04-A9E%GC44-EF<. %(&L&')"!#% %()L+& "+*%

(ii) Domestic %!!" )% %('"!!%

18,829.21 16,399.59

Note 22 Other Income




(a) Interest income (Refer Note (i) below) %!"#!% %('"$$%

(b) Dividend Income:

From current investments (mutual funds) %((&"$&% %('*" )%

,F%.%W-8%96AE%0E%704-A9E%FC44-EF<%846E?6F8A0E?%6E5%846E?>68A0E – %(! "*(%

(d) Other non-operating income (Refer note (ii) below) %#$#")'% %!$ ") %

666.60 497.80




Note (i) Interest income comprises:

,6.%KE8-4-?8%740D%/6E1?%0E%V-;0?A8? %!"#!% %$"''%

(b) Interest on income tax refund – %)"$$%

%!"#!% %('"$$%

Note (ii) Other non-operating income comprises:

(a) Rental income from operating leases %($#"++% %(*&"!(%

,=.%YA6=A>A8A-?b;403A?A0E?%E0%>0E9-4%4-aCA4-5%^4A88-E%=6F1% %!+ "'*% %#*"#*%

(c) Provision for trade receivables no longer required written back %+'"*)% %+")*%

,5.%/65%V-=8?bR536EF-?%X-F03-4-5 %'"#&% –

,-.%H40S8%0E%B6>-%07%IAO-5%R??-8? %()"+ % –

(f) Miscellaneous income %((+"$*% %('"!$%

545.60 249.69

!"#$%&$'()*+#,$-*$-*.#*"!/-#,$!0$1!/23-*34/!5#,,6




KE3-E804A-?%68%8:-%-E5%07%8:-%<-64@KE3-E804A-?%68%8:-%-E5%07%8:-%<-64@

Work-in-process *&!"* %&& "##

KE3-E804A-?%68%8:-%=-9AEEAE9%07%8:-%<-64@KE3-E804A-?%68%8:-%=-9AEEAE9%07%8:-%<-64@

Work-in-process && "## !$" #

106.76 35.40

U4-;4-?-E8?%F0?8%07%N<;-[?-88AE9%6E5%V686%VA9A8Ad68A0E%?-43AF-?%AE%;4094-??



!"#$%7$894:!;##$<#*#=",$#>4#*,#




B6>64A-?%6E5%^69-? %)L&))"('% %)L*+&")$%

G0E84A=C8A0E?%80%;403A5-E8%6E5%08:-4%7CE5?%,X-7-4%W08-%!&. %$)+"&)% %$*$"$ %

B86h%^->764-%-O;-E?-? %$*)"#&% %$ "+'%

7,806.54 7,712.43

Note 25 Finance costs




(a) Interest expense on:

%,A.%V->6<-5%;6<D-E8%07%AEF0D-%86Ob?-43AF-%86O +)"$ %)"'+%

%,AA.%/0440ÂE9? ("$) %#("#&%

(iii) Others '"$& %("()%

38.43 58.77




Consumables %$$"((% %++")&%

Outsourcing cost %(L'*&"*)% % &!"'*%

Power and fuel %$+&"''% %$+!"$#%

X-E8%AEF>C5AE9%>-6?-%4-E86>?%,X-7-4%W08-%+("(. %)))" '% %&*'")'%

_A4-%G:649-? %!#"$*% %+)"'!%

X-;6A4?%6E5%D6AE8-E6EF-%[%/CA>5AE9? %!$("& % %!$+"()%

X-;6A4?%6E5%D6AE8-E6EF-%[%H>6E8%6E5%]6F:AE-4< %($$"( % %(!*"!'%

Repairs and maintenance - Others %$")&% %$"#*%

Insurance %! ")$% %!*"*&%

Rates and taxes %! " !% %##"! %

Communication %!+ "'(% %!)+"**%

N463->>AE9%6E5%F0E3-<6EF- %$ ("#(% %#&!"&)%

Legal and professional %( '"!$% %!++"#*%

VA4-F804?%BA88AE9%I--? %*")'% %)")'%

Commission to Non-executive directors %)+"#!% %$!"')%

H6<D-E8?%80%6C5A804?%,X-7-4%W08-%,A.%=->0^. %))"&!% %)'"++%

/65%8465-%4-F-A36=>-?%^4A88-E%0h ((+"!* %*" #%

Less: Provision utilised for the above ("!$ –

!!"'+ %*" #%

R536EF-?%^4A88-E%0h + " + –

Less: Provision utilised for the above + " + –

– –

H403A?A0E%704%50C=87C>%8465-%6E5%08:-4%4-F-A36=>-?L%>06E?%6E5%advances

%*$"$(% %++"!*%

Y0??%0E%SO-5%6??-8?%?0>5b?F46;;-5b^4A88-E%0h %*"'(% %!'"))%

W-8%>0??%0E%704-A9E%FC44-EF<%846E?6F8A0E?%6E5%846E?>68A0E %+( "+!% –

Miscellaneous expenses %!# "!#% %! )"(!%

4,444.28 4,360.01

Note 26 Other expenses


51




H6<D-E8?%80%8:-%6C5A804?%F0D;4A?-?%,E-8%07%?-43AF-%86O%AE;C8%F4-5A8L%^:-4-%6;;>AF6=>-.@

,A.%I04%RC5A8%iAEF>C5-?%X?"%(%Y6F%704%F04;0468-%903-4E6EF-%4-;048AE9%,H4-3A0C?%Z-64[%X?"%(%Y6F.%6E5%X?"%+"#%Y6F?%704%6C5A8%07%G0E?0>A568-5%IAE6EFA6>%B868-D-E8%,H4-3A0C?%Z-64[%WA>.j

++"#' %!&"''%

(ii) For taxation matters !*"'' %!)"''%

(iii) For other services $"#' %+"#'%

(iv) Reimbursement of expenses ("&! %!"&+%

66.82 60.33

Note (i)

!"#$%?$@AA-"-!*):$-*0!/9)"-!*$"!$"(#$=*)*5-):$,")"#9#*",

As at 31-Mar-2014

As at 31-Mar-2013

Note Particulars INR in Lacs INR in Lacs

!*"( Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities(i) Contingent liabilities

G>6AD?%696AE?8%8:-%G0D;6E<%E08%6F1E0^>-59-5%6?%5-=8?

(a) Income Tax

X->68AE9%80%846E?7-4%;4AFAE9%65`C?8D-E8?%6E5%5A?6>>0^6EF-%07%-O;048 &#+"#& %*))"!*

commission and other deductions

,=.%B-43AF-%N6O

H-E6>8<%6E5%AE8-4-?8%704%5->6<-5%;6<D-E8?L%5A?6>>0^6EF-%07%AE;C8%F4-5A8 )*#"#) %#!'"!

and demand on overseas commission

,F.%JD;>0<--%B868-%KE?C46EF-%,JBK.%6E5%H403A5-E8%ICE5%,HI.%3-E504%;6<D-E8? )"#) %)"#)

,5.%QRN – %)"#!

(e) Other Claims !#)"'' –

N:-%6=03-%6D0CE8?%64-%=6?-5%0E%8:-%E08AF-%07%5-D6E5bR??-??D-E8%245-4?bF>6AD?%=<%8:-%4->-36E8%6C8:04A8A-?b;648A-?%6E5%8:-%G0D;6E<%A?%F0E8-?8AE9%8:-?-%F>6AD?"%2C8k0^?L%A7%6E<L%64A?AE9%0C8%07%8:-?-%F>6AD?%^0C>5%5-;-E5%0E%8:-%0C8F0D-%07%8:-%5-FA?A0E?%07%8:-%6;;->>68-%6C8:04A8A-?%6E5%8:-%G0D;6E<l?%4A9:8?%704%7C8C4-%6;;-6>?%=-704-%8:-%`C5AFA64<"%W0%4-AD=C4?-D-E8?%64-%-O;-F8-5"

(ii) Commitments



Estimated amount of contracts remaining to be executed on capital account and not provided forTangible assets #*"#! %(+"& %

57.52 13.89

!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%!*"! N:-4-%64-%E0%DAF40%6E5%?D6>>%-E8-4;4A?-?L%80%^:0D%8:-%G0D;6E<%0^-?%5C-?L%^:AF:%64-%0C8?86E5AE9%704%D04-%8:6E%$#%56<?%5C4AE9%8:-%<-64%6E5%6>?0%6?%68%+([]64[!'($%,HZ%[%KWX%WA>."%N:A?%AE704D68A0E%:6?%=--E%A5-E8AS-5%0E%8:-%=6?A?%07%AE704D68A0E%636A>6=>-%Â8:%8:-%G0D;6E<"%N:A?%:6?%=--E%4->A-5%C;0E%=<%8:-%6C5A804?"

Note 26 Other expenses (contd.)



!"#$%?$@AA-"-!*):$-*0!/9)"-!*$"!$"(#$=*)*5-):$,")"#9#*",$B5!*"ACD

!*"+

(i)

Details on derivatives instruments and unhedged foreign currency exposures

I04^645%-OF:6E9-%F0E846F8?%-E8-4-5%AE80%80%:-59-%704-A9E%FC44-EF<%4A?1%07%:A9:><%;40=6=>-%846E?6F8A0E?%6E5%0C8?86E5AE9%6?%68%8:-%/6>6EF-%?:--8%568-%64-%6?%CE5-4@

Currency Amount in FCY Lacs Buy/Sell Amount in INR Lacs

cBV 44,*!. B->>

2,879.48,$'+ "+&.

T/H 11,(&. B->>

1,161.15,(#* "&'.

(ii) E(#$;#)/3#*A$0!/#-+*$5F//#*5;$#>4!,F/#,$"()"$().#$*!"$<##*$(#A+#A$<;$)$A#/-.)"-.#$-*,"/F9#*"$!/$!"(#/1-,#$)/#$+-.#*$<#:!1G


Receivable in Foreign Currency

Receivable Amount in INR Lacs



RcV%!$L(+( (+"+$ RcV%$(L+* !+"*'

GRV%!L'+' ("(' GRV%('L$$) #")&

JcX%( !L ## (# "#$ JcX%!*(L '& (& "($

T/H%(($L&'' (($"#+ – –

– – WmV%!L!(' ("''

BTV%('L'#( $"*& BTV%(L+ ) '")(


Payablein Foreign Currency

PayableAmount in INR Lacs



cBV%#&#L*!* +#'" $ cBV%$$+L')& !$'"#$

T/H%!)*L'#! !))"$! T/H%##)L$&$ $#*")(

JcX%(&L(#) (#"'( JcX%+)L'&' !#"('


For the period ended 31-Mar-2013

!*"$ Value of imports calculated on CIF basis: INR in Lacs INR in Lacs

Capital goods %+$"$&% %(!"''%


For the period ended 31-Mar-2013

!*"# Expenditure in foreign currency: INR in Lacs INR in Lacs

Outsourcing Cost %$+$"!&% %+(#"! %

B6>64A-?L%M69-?%6E5%=0EC? %+'+"!#% %+&&"+*%

Rates and taxes – %'"*(%

Rent %+&"+#% %!'"!+%

Legal and Professional Charges %*+"' % %**"$$%

Repairs and Maintainence %(+"&'% %&"' %

Travel %$&"$(% %#!"+'%

Communication %((&"+#% %($'"##%

Others %!'$"*#% %!&*"!!%

1,234.28 1,290.20


53

Disclosures under Accounting Standards

Note Particulars

!&"( 894:!;##$<#*#="$4:)*,

!&"("6 H#=*#A$5!*"/-<F"-!*$4:)*,

N:-%G0D;6E<%D61-?%F0E84A=C8A0E?%80%H403A5-E8%ICE5L%BC;-46EEC68A0E%ICE5%6E5%JD;>0<--%B868-%KE?C46EF-%,JBK.%BF:-D-%704%aC6>A7<AE9%-D;>0<--?"%cE5-4%8:-%BF:-D-?L%8:-%G0D;6E<%A?%4-aCA4-5%80%F0E84A=C8-%6%?;-FAS-5%;-4F-E869-%07%8:-%;6<40>>%F0?8?%80%7CE5%8:-%=-E-S8?"%N:-%G0D;6E<%4-F09EA?-5%KWX%+! "( %Y6F?%,H4-3A0C?%<-64%KWX%!*)")!%Y6F?".%704%H403A5-E8%ICE5%F0E84A=C8A0E?L%KWX%)"+'%Y6F?%,H4-3A0C?%<-64%KWX%)"''%Y6F?".%704%BC;-46EEC68A0E%ICE5%G0E84A=C8A0E?%6E5%KWX%)(" $%Y6F?%,H4-3A0C?%<-64%KWX%))"&(%Y6F?.%704%JBK%AE%8:-%B868-D-E8%07%H40S8%6E5%Y0??"%N:-%F0E84A=C8A0E?%;6<6=>-%80%8:-?-%;>6E?%=<%8:-%G0D;6E<%64-%68%468-?%?;-FAS-5%AE%8:-%4C>-?%07%8:-%?F:-D-?"%

!&"("= H#=*#A$<#*#="$4:)*,

N:-%G0D;6E<%0h-4?%8:-%70>>0ÂE9%-D;>0<--%=-E-S8%?F:-D-?%80%A8?%-D;>0<--?@

A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.A" T468CA8<%,AEF>C5-5%6?%;648%07%F0E84A=C8A0E%80%;403A5-E8%6E5%08:-4%7CE5?%AE%E08-%!$L%-D;>0<--?%=-E-S8%-O;-E?-?.

N:-%70>>0ÂE9%86=>-%?-8?%0C8%8:-%7CE5-5%?868C?%07%8:-%5-SE-5%=-E-S8%?F:-D-?%6E5%8:-%6D0CE8%4-F09EA?-5%AE%8:-%SE6EFA6>%statements:

INR in Lacs

Particulars

As at31-Mar-2014

As at31-Mar-2013

Components of employer expenseCurrent service costInterest costExpected return on plan assetsRF8C64A6>%>0??-?b,96AE?.

%$#"!&+'")!,+'" .,( "&).

%#'"#(%%+'") %%,+)"&$.%*'"$(%

E!"):$#>4#*,#$/#5!+*-,#A$-*$"(#$I")"#9#*"$!0$J/!="$)*A$K!,, 25.05 114.77

@5"F):$5!*"/-<F"-!*$)*A$<#*#="$4);9#*",$0!/$;#)/$RF8C6>%=-E-S8%;6<D-E8?RF8C6>%F0E84A=C8A0E?

,)&"& .!&"))

,(!*")+.%(#"&*

#"$),,#"LB:-)<-:-";D$/#5!+*-,#A$-*$"(#$M):)*5#$I(##"$H4-?-E8%36>C-%07%5-SE-5%=-E-S8%0=>A968A0EFair value of plan assetsICE5-5%?868C?%nBC4;>C?b,V-SFA8.o%Unrecognised past service costs

,+*#"#+.+$#"##,! " &.

–

,+&!"**.%+#)"!'%%,!)"#*.

–

#"$),,#"LB:-)<-:-";D$/#5!+*-,#A$-*$"(#$M):)*5#$I(##" (29.98) (26.57)

'()*+#$-*$A#=*#A$<#*#="$!<:-+)"-!*,$BHMND$AF/-*+$"(#$;#)/H4-?-E8%36>C-%07%V/2%68%=-9AEEAE9%07%8:-%<-64Current service costInterest costRF8C64A6>%,96AE?.b>0??-?/-E-S8?%;6A5

+&!"**$#"!&+'")!,($"!#.,)&"& .

+)("(!%%#'"#(%%+'") %%)&"'&%

%,(!*")+.

Present value of DBO at the end of the year 375.53 382.77

Change in fair value of assets during the yearH>6E%6??-8?%68%=-9AEEAE9%07%8:-%<-64Expected return on plan assetsRF8C6>%F0D;6E<%F0E84A=C8A0E?RF8C64A6>%96AEb,>0??.%/-E-S8?%;6A5

+#)"!'+'" !&")),("$(.,)&"& .

$++"$#%%+)"&$%%(#"&*%%,!"++.

%,(!*")+.

Plan assets at the end of the year 345.55 356.20

RF8C6>%4-8C4E%0E%;>6E%6??-8? ! "#& %+$"#'

'!94!,-"-!*$!0$"(#$4:)*$),,#",$-,$),$0!::!1,GG-E846>%T03-4ED-E8%B-FC4A8A-?B868-%T03-4ED-E8%B-FC4A8A-?T038"%TC646E8--5%B-FC4A8A-?V-=-E8C4-?%6E5%/0E5?JaCA8<%B:64-?Fixed Deposits]0E-<%]641-8%KE?84CD-E8?

!!" $p(&"''p("+*p+*"#!p$") p($" p'"$ p

+("+#p('"*(p("+#p

$!"&#p#"!!p&"+#p'"()p



Note 28 Disclosures under Accounting Standards (contd.)

Note Particulars As at 31-Mar-2014 As at 31-Mar-2013

Actuarial assumptionsDiscount rateExpected return on plan assetsB6>64<%-?F6>68A0E

"! p&"*'p)"''p

&"''p&"*'p)"''p

R884A8A0E JD;>0<--%T465-%Â?-%84-E5

Estimated amount of Contribution in 8:-%E-O8%<-64

X?%!!" *%Lacs

X?%!)"#*%Lacs

Experience adjustments 31-Mar-2014 31-Mar-2013 31-Mar-2012 31-Dec-2010

31-Dec-2009

H4-?-E8%36>C-%07%V/2Fair value of plan assetsICE5-5%?868C?%nBC4;>C?b,V-SFA8.o

+*#"#++$#"##,! " &.

+&!"**+#)"!',!)"#*.

+)("(!$++"$#*!"++

$(+"&(+&&")',!#"!(.

+!$"&*+!(" ),!" (.

JO;-4A-EF-%96AEb,>0??.%65`C?8D-E8?%on plan liabilities

+#"$! $+"! ,)"&$.+#"$! $+"! ,)"&$.

Refer Note (iii)JO;-4A-EF-%96AEb,>0??.%65`C?8D-E8?%

on plan assets,("$(. ,!"++. #"' ,("$(. ,!"++. #"'

AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64AA" Y0E9%8-4D%G0D;-E?68-5%R=?-EF-?%6?%68%+([]64F:[!'($%A?%KWX%WA>%Y6F?%,H4-3A0C?%<-64%KWX%(#")!%Y6F?.

G0D;-E?68-5%R=?-EF-?%64-%6F8C64A6>><%36>C-5%6?%68%8:-%-E5%07%8:-%Z-64"%N:-%6F8C4A6>%6??CD;8A0E?%64-%6?%CE5-4@

Particulars As at 31-Mar-2014 As at 31-Mar-2013

Actuarial assumptionsDiscount rateExpected return on plan assetsB6>64<%-?F6>68A0E

"! p&"*'p)"''p

&"''p&"*'p)"''p

Notes:

,A.% %N:-%5A?F0CE8%468-%A?%=6?-5%0E%8:-%;4-36A>AE9%D641-8%<A->5?%07%T03-4ED-E8%07%KE5A6%?-FC4A8A-?%6?%68%8:-%/6>6EF-%B:--8%568-%704%8:-%-?8AD68-5%8-4D%07%8:-%0=>A968A0E?"

,AA.% %N:-%-?8AD68-%07%7C8C4-%?6>64<%AEF4-6?-?%F0E?A5-4-5L%861-?%AE80%6FF0CE8%8:-%AEk68A0EL%?-EA04A8<L%;40D08A0EL%AEF4-D-E8?%6E5%08:-4%4->-36E8%76F804?"

,AAA.% %N:-%5-86A>?%07%-O;-4A-EF-%65`C?8D-E8?%64A?AE9%0E%6FF0CE8%07%;>6E%6??-8?%6E5%>A6=A>A8A-?%704%8:-%<-64?%!'' q!'('%6?%4-aCA4-5%=<%RFF0CE8AE9%B86E5645%,RB.[(#%rJD;>0<--%/-E-S8?s%64-%E08%636A>6=>-%AE%36>C68A0E%4-;048"

!"#$%&'"#()*+,&*-."*#"/+,-("#0!"#12-."*#&3#0!"#&'".*"$*#%.$4+!5#$*#)0#)*#2&'".4"(#%6#0!"#,$7*#8."'$),)42#)4#9:;<


55

Disclosures under Accounting Standards (contd.)

Note Particulars

=><? Segment information

!"#@&A8$46#&8".$0"*#)4#&4"#%-*)4"**#*"2A"40#&3#8.&')()42#8-%,)*!)42#*&,-0)&4*#')B<5#068"*"00)42#$4(#($0$#()2)0)B$0)&4#*".')+"*#$4(#)*#+&4*)("."(#0&#+&4*0)0-0"#$#*)42,"#*"2A"40#)4#0!"#+&40"/0#&3#8.)A$.6#*"2A"40#."8&.0)42#$*#8."*+.)%"(#%6#;++&-40)42#:0$4($.(#?C#D#E:"2A"40#F"8&.0)42G<

!"#@&A8$46H*#&8".$0)&4*#$."#A$4$2"(#&4#$#7&.,(7)("#%$*)*#3.&A#I4()$#$4(#0!"6#&8".$0"#)4#3&-.#8.)4+)8$,#2"&2.$8!)+$,#$."$*#')B<5#I4()$5#J-.&8"5#94)0"(#:0$0"*#&3#;A".)+$#$4(#F"*0#&3#0!"#K&.,(<# !"#*"+&4($.6#*"2A"40#)*#)("40)1"(#0&#0!"*"#2"&2.$8!)+$,#,&+$0)&4*<#L"0$),*#&3#*"+&4($.6#*"2A"40#%6#2"&2.$8!)+$,#,&+$0)&4*#$."#2)'"4#%",&7M

Revenue by location of customer

For the Year ended 31-Mar-2014INR in Lacs


Europe9:;Rest of the World

#==<>NO5OQR<=O#>5SSC<CS##QRO<=T#

#?R<==##C5Q=C<N=##O5=OS<O>##QCN<ON

Total 18,829.21 16,399.59

Carrying amount of Segment Assets by geographical location

As at 31-Mar-2014INR in Lacs


IndiaEurope9:;Rest of the World

#O5?N><TN##?5ON?<TS##?5S=T<CR#

#>><C?#

#C5STO<S?##?5NOO<TR##?5NQC<OS##???<C?

Total 11,554.11 10,896.26

Cost incurred for purchase of Tangible Assets and Intangible Assets by geographical location



India9:;

#=CN<=C##=<NN#

#SQ><O?##=<R?

Total 278.93 461.82




Note Particulars

TR Related party transactions

TR<$ Details of related parties:

Description of relationship Names of related parties

U)V#W&,()42#@&A8$46 ;LI#XYZ#:".')+"*#[)A)0"(

U))V#:-%*)()$.6#@&A8$46#U7<"<3<#=>D\$6D=R?TV \Y:#]&.0!#;A".)+$#[[@<U))V#:-%*)()$.6#@&A8$46#U7<"<3<#=>D\$6D=R?TV \Y:#]&.0!#;A".)+$#[[@<

U)))V#^"6#\$4$2"A"40#Y".*&44",#U^\YV \.<#])*!)0!#;.&.$5#@!$).A$4#$4(#\$4$2)42#L)."+0&.\.<#F$!-,#;.&.$5#L)."+0&.#U7<"<3#?=D;-2D=R?TV\.<#F$_)'#^#:"0!5#\$4$2)42#L)."+0&.#U-8#0&#?OD;8.D=R?=V

U)'V#F",$0)'"*#&3#^\Y \.<#F$!-,#;.&.$5#@!)"3#\$.`"0)42#Za+".#U0),,#??D;-2D=R?TV\.*<#b$A)4)# $4(&45#c)+"#Y."*)("40D:".')+"#L",)'".6#U7<"<3<#?CDd"%D=R?SV

TR<% Details of related party transactions during the year ended 31 Mar, 2014 and balances outstanding as at 31 Mar, 2014:

INR in Lacs

HoldingCompany

Subsidiary

KMP

Relatives ofKMP

Total

Y-.+!$*"#&3#1/"(#$**"0* SR<S?U?>C<CCV

–(–)

–(–)

–(–)

40.41U?>C<CCV

Rent =CQ<O=U?NS<=SV

–(–)

–(–)

–(–)

275.82U?NS<=SV

:"+-.)06#L"8&*)0#8,$+"( –U?RR<RRV

–(–)

–(–)

–(–)

–U?RR<RRV

Reimbursement of expenses N<RO(–)

–(–)

–(–)

–(–)

6.08(–)

F"+&'".6#&3#J/8"4*"* –(–)

#??<N=(–)

–(–)

–(–)

11.62(–)

I4'"*0A"40#)4#"e-)06#*!$."*f-4)0* –(–)

#?5RSC<=S(–)

–(–)

–(–)

1,047.24(–)

Dividend =5?SS<O>U?5Q=><RQV

–(–)

–(–)

–(–)

2,144.89U?5Q=><RQ

Remuneration:

])*!)0!#;.&.$ –(–)

–(–)

?QC<C>U?Q=<SSV

–(–)

157.79U?Q=<SSV

F$!-,#;.&.$ –(–)

–(–)

SO<>O(–)

?R<C>U?O<>CV

59.77U?O<>CV

b$A)4)# $4(&4 –(–)

–(–)

–(–)

T<SS(–)

3.44(–)

F$_)'#^<#:"0! –(–)

–(–)

–#gUT?<S=V#

–(–)

–#UT?<S=V

Balances outstanding at the end of the year

:"+-.)06#L"8&*)0#Y,$+"(#UF"3".#]&0"#?TV ?RR<RRU?RR<RRV

–(–)

–(–)

–(–)

100.00U?RR<RRV

Y$6$%,"*#&4#$++&-40#&3#.")A%-.*"A"40#&3#"/8"4*"* N<ROY$6$%,"*#&4#$++&-40#&3#.")A%-.*"A"40#&3#"/8"4*"* N<RO(–)

–(–)

–(–)

–(–)

6.08(–)

g#I4+,-()42#8$6A"40#&3#I]F#?O<RO#,$+*#0&7$.(*#2.$0-)06#$4(#,"$'"#"4+$*!A"40#)4#=R?=D?T<

Notes?<#]&#$A&-40#!$*#%""4#7.)00"4#&hf7.)00"4##%$+`#(-.)42#0!"#6"$.#)4#."*8"+0#&3#(-"*#3.&Af0&#.",$0"(#8$.0)"*<=<#d)2-."*#)4#%.$+`"0*#.",$0"#0&#8."')&-*#6"$.

TR<+ !"#."A-4".$0)&4#0&#^"6#\$4$2"A"40#Y".*&44",#)4+,-("*#F*<#SO<>O#[$+*#8$)(#$*#."A-4".$0)&4#0&#\.#F$!-,#;.&.$5#K!&,"# )A"#L)."+0&.#"h"+0)'"#3.&A#;-2-*0#?=5#=R?T<#;4#$88,)+$0)&4#7$*#A$("#0&#0!"#@"40.$,#i&'".4A"40#8-.*-$40#0&#:"+0)&4#=N>5#T?R#."$(#7)0!#Y$.0#;#&3#:+!"(-,"#jIII#*)4+"#\.<#F$!-,#;.&.$#7$*#4&0#$#."*)("40#)4#I4()$#3&.#$#+&40)4-&-*#8".)&(#&3#?=#A&40!*#)AA"()$0",6#8."+"()42#0!"#($0"#&3#!)*#$88&)40A"40#$*#$#K!&,"# )A"#L)."+0&.<# !"#@"40.$,#i&'".4A"40#!$*#0$`"4#&4#."+&.(#0!"#$3&."*$)(#$88,)+$0)&4#$4(#!$*#)43&.A"(#')("#0!").#,"00".#($0"(#k$4-$.6#>5#=R?S#0!$0#0!"#A$00".#7),,#%"#3-.0!".#"/$A)4"(#&4#."+")80#&3#0!"#*!$."!&,(".*H#$88.&'$,<#;++&.()42,65#0!"#$%&'"#)*#*-%_"+0#0&#$88.&'$,#&3#0!"#*!$."!&,(".*#$4(#0!"#@"40.$,#i&'".4A"40<


57


For the Year ended 31-Mar-2014



T?<? Details of leasing arrangements

As Lessee

!"#@&A8$46#!$*#"40"."(#)40&#+$4+",,$%,"#$4(#4&4D+$4+",,$%,"#&8".$0)42#,"$*"*#3&.#&a+"#8."A)*"*#$4(#+$4+",,$%,"#,"$*"*#3&.#'"!)+,"*<#["$*"#."40$,*#."+&24)*"(#)4#."*8"+0#&3#*-+!#&8".$0)42#,"$*"*#)4#0!"#:0$0"A"40#&3#Y.&10#$4(#[&**#)*M

666.90 870.60

!"#0&0$,#&3#3-0-."#A)4)A-A#,"$*"#8$6A"40*#)4#."*8"+0#&3#8."A)*"*#taken on lease under non-cancellable operating leases are as follows:

d-0-."#A)4)A-A#,"$*"#8$6A"40*

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59

INDEPENDENT AUDITORS’ REPORT TO THE BOARD OF DIRECTORS OF MPS LIMITED

REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS

!"#$%!"$&'()!'")#!"$**+,-$./(.0"*+.1+2('$)!'"3.$.*($2"1)$)!,!.)1"+4"567"8959:;<"=)#!">?+,-$./@A"$.'"()1"1&B1('($C/"=)#!"?+,-$./"$.'" !"#"$%" & '()#*+,"! !$!-#.!/-#0(+$1234#5/ */#*+61( "-#!/-#7+,"+8 &'!-&#9'8',*-#:/--!#'"#'!#;'(*/#<=4#>?=@4#!/-#7+,"+8 &'!-&#:!'!-6-,!#+A#B(+C!#',&#D+""#',&#!/-#7+,"+8 &'!-&#7'"/#E8+5#:!'!-6-,!#A+(#!/-#)-'(#!/-,#-,&-&4#',&#'#"$66'()#+A#!/-#" F, C*',!#'**+$,! ,F#1+8 * -"#',&#+!/-(#-G18','!+()# ,A+(6'! +,H

MANAGEMENT’S RESPONSIBILITY FOR THE CONSOLIDATED FINANCIAL STATEMENTS

I/-#7+61',)J"#;','F-6-,!# "#(-"1+," %8-#A+(#!/-#1(-1'('! +,#+A#*+,"+8 &'!-&#C,',* '8#"!'!-6-,!"#!/'!#F K-#'#!($-#',&#A' (#K -5#+A#!/-#*+,"+8 &'!-&# C,',* '8# 1+" ! +,4# *+,"+8 &'!-&# C,',* '8# 1-(A+(6',*-# ',&# *+,"+8 &'!-&# *'"/# L+5"# +A# !/-# 0(+$1# ,# '**+(&',*-# 5 !/# !/-#'**+$,! ,F# 1( ,* 18-"# F-,-('88)# '**-1!-&# ,# M,& 'H# I/ "# (-"1+," % 8 !)# ,*8$&-"# !/-# &-" F,4# 618-6-,!'! +,# ',&# 6' ,!-,',*-# +A# ,!-(,'8#*+,!(+8#(-8-K',!#!+#!/-#1(-1'('! +,#',&#1(-"-,!'! +,#+A#!/-#*+,"+8 &'!-&#C,',* '8#"!'!-6-,!"#!/'!#F K-#'#!($-#',&#A' (#K -5#',&#'(-#A(--#A(+6#6'!-( '8#6 ""!'!-6-,!"4#5/-!/-(#&$-#!+#A('$&#+(#-((+(H

AUDITORS’ RESPONSIBILITY

N$(# (-"1+," % 8 !)# "# !+# -G1(-""# ',# +1 , +,# +,# !/-"-# *+,"+8 &'!-&# C,',* '8# "!'!-6-,!"# %'"-&# +,# +$(# '$& !H# O-# *+,&$*!-&# +$(# '$& !# ,#'**+(&',*-#5 !/#!/-#:!',&'(&"#+,#P$& ! ,F# ""$-&#%)#!/-#M,"! !$!-#+A#7/'(!-(-&#P**+$,!',!"#+A#M,& 'H#I/+"-#:!',&'(&"#(-Q$ (-#!/'!#5-#*+618)#5 !/#-!/ *'8#(-Q$ (-6-,!"#',&#18',#',&#1-(A+(6#!/-#'$& !#!+#+%!' ,#(-'"+,'%8-#'""$(',*-#'%+$!#5/-!/-(#!/-#*+,"+8 &'!-&#C,',* '8#"!'!-6-,!"#'(-#A(--#A(+6#6'!-( '8#6 ""!'!-6-,!H

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

O-#%-8 -K-#!/'!#!/-#'$& !#-K &-,*-#5-#/'K-#+%!' ,-&# "#"$U* -,!#',&#'11(+1( '!-#!+#1(+K &-#'#%'" "#A+(#+$(#'$& !#+1 , +,H

OPINION

M,# +$(# +1 , +,# ',&# !+# !/-# %-"!# +A# +$(# ,A+(6'! +,# ',&# '**+(& ,F# !+# !/-# -G18','! +,"# F K-,# !+# $"4# !/-# 'A+(-"' &# *+,"+8 &'!-&# C,',* '8#"!'!-6-,!"#F K-#'#!($-#',&#A' (#K -5# ,#*+,A+(6 !)#5 !/#!/-#'**+$,! ,F#1( ,* 18-"#F-,-('88)#'**-1!-&# ,#M,& 'V

W'3 ,#!/-#*'"-#+A#!/-##7+,"+8 &'!-&#9'8',*-#:/--!4#+A#!/-#"!'!-#+A#'T' ("#+A#!/-#0(+$1#'"#'!#;'(*/#<=4#>?=@X

W%3 ,#!/-#*'"-#+A#!/-#7+,"+8 &'!-&#:!'!-6-,!#+A#B(+C!#',&#D+""4#+A#!/-#1(+C!#+A#!/-#0(+$1#A+(#!/-#)-'(#-,&-&#+,#!/'!#&'!-X#',&

W*3 ,#!/-#*'"-#+A#!/-##7+,"+8 &'!-&#7'"/#E8+5#:!'!-6-,!4#+A#!/-#*'"/#L+5"#+A#!/-#0(+$1#A+(#!/-#)-'(#-,&-&#+,#!/'!#&'!-H

E+(#DELOITTE HASKINS & SELLS

7/'(!-(-&#P**+$,!',!"WE (6#Y-F "!('! +,#Z+H#??[?\>:3

Monisha Parikh

B'(!,-(W;-6%-("/ 1#Z+H#@\[@?3

MUMBAI,#;')#>>4#>?=@;B];0Y]>?=@



Particulars

Note No.


I EQUITY AND LIABILITIES

1 Shareholders’ funds

(a) Share capital 3 1,682.27

(b) Reserves and surplus 4 7,490.67

9,172.94

2 Non-current liabilities

(a) Long-term borrowings 5 1.80

(b) Other long-term liabilities 6 7.42

9.22

3 Current liabilities

(a) Short-term borrowings 7 362.69

(b) Trade payables 8 1,577.89

(c) Other current liabilities 9 521.60

(d) Short-term provisions 10 109.91

2,572.09

TOTAL 11,754.25

II ASSETS

1 Non-current assets

(a) Fixed assets

(i) Tangible assets 11.A 1,761.57

(ii) Intangible assets 11.B 627.26

2,388.83

(b) Deferred tax assets (net) 31.3 125.44

(c) Long-term loans and advances 12 2,081.92

(d) Other non-current assets 13 14.35

4,610.54

2 Current assets

(a) Current investments 14 1,754.07

(b) Inventories 15 782.79

(c) Trade receivables 16 3,215.38

(d) Cash and cash equivalents 17 1,161.49

(e) Short-term loans and advances 18 227.18

(f) Other current assets 19 2.80

7,143.71

TOTAL 11,754.25

!!"#$$%&'#()*(+"(%,!-".%/&*(+"'#/,"%.",0!"$%(-%1*2#,!2"3(#($*#1"-,#,!&!(,-

MPS Limited

CONSOLIDATED BAA ALANCE SHEET AS AT 31-MAA ARCH-2014



Managing Director

Sunit Malhotra Supriya Kumar Guha40*!."5*(#($*#1"67$!/ 4%&'#()" !$/!,#/)

Place: Mumbai Place: MumbaiDated: 22-May-2014 Dated: 22-May-2014

Page_60-83_Annual-Consolidate-Table.indd 60Page_60-83_Annual-Consolidate-Table.indd 60Page_60-83_Annual-Consolidate-Table.indd 60Page_60-83_Annual-Consolidate-Table.indd 60Page_60-83_Annual-Consolidate-Table.indd 60Page_60-83_Annual-Consolidate-Table.indd 60Page_60-83_Annual-Consolidate-Table.indd 60Page_60-83_Annual-Consolidate-Table.indd 60Page_60-83_Annual-Consolidate-Table.indd 60 05/07/14 5:25 PM05/07/14 5:25 PM05/07/14 5:25 PM05/07/14 5:25 PM05/07/14 5:25 PM05/07/14 5:25 PM05/07/14 5:25 PM05/07/14 5:25 PM

61

MPS Limited

CONSOLIDATED AA STATT TEAA MENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31-MARCH-2014

Particulars Note No.

For the year ended 31-Mar-2014INR in Lacs

I Revenue from operations (net) 20 19,728.49

II Other Income 21 666.60

III Total Revenue (I+II)III Total Revenue (I+II) 20,395.09

IV ExpensesIV Expenses

(a) Changes in inventories of work-in-process 22 106.76

9:;"<&'1%)!!":!(!3,-"!='!(-! 23 8,468.60

(c) Finance costs 24 38.43

(d) Depreciation and amortisation expense 11 528.78

(e) Other expenses 25 4,857.12

Total Expenses 13,999.69

V !"#$%&'("!'%$)*%+,,,-,./ 6,395.40

VI Tax expense:VI Tax expense:

(a) Current tax 2,240.45

(b) Deferred tax (59.45)

Net tax expenses 2,181.00

VII !"#$%("!%$0'%1')!%+.-.,/ 4,214.40

VIII Earnings per equity share (of Rs. 10 each) VIII Earnings per equity share (of Rs. 10 each) Basic and Diluted 31.2 25.05

!!"#$$%&'#()*(+"(%,!-".%/&*(+"'#/,"%.",0!"$%(-%1*2#,!2"3(#($*#1"-,#,!&!(,-



Managing Director





Particulars


A. CASH FLOW FROM OPERATING ACTIVITIES

9!,":/%3,;<=%-->"?!.%/!"!@,/#%/2*(#/)"*,!&-"#(2",#@ 6,395.40

Adjustments for:

A!'/!$*#,*%(;B&%/,*-#,*%( 528.78

Interest income (2.52)

Income from Mutual Funds (118.48)

Interest expenses 38.43

:/%3,"%(" #1!;2*-'%-#1;C/*,!D%E"%."3@!2"#--!,-"<(!,> (8.96)

Provision for doubtful debts no longer required written back (30.76)

=*#?*1*,*!-;:/%F*-*%(-"(%"1%(+!/"/!GH*/!2"C/*,,!("?#$I (239.07)

Provision for doubtful loans and advances 111.25

J#2"2!?,-"C/*,,!("%E 113.27

=%#(-"#(2"B2F#($!-"C/*,,!("%E 39.93

K(/!#1*-!2"!@$0#(+!"2*E!/!($!"<(!,> 7.24

439.11

6'!/#,*(+"'/%3,;<1%-->"?!.%/!"C%/I*(+"$#'*,#1"$0#(+!- 6,834.51

Changes in working capital:

B2LH-,&!(,-".%/"<*($/!#-!>;2!$/!#-!"*("%'!/#,*(+"#--!,-M

Inventories of Work in Process 106.76

Trade receivables (11.04)

Short-term loans and advances 184.06

Other current assets 115.66

Long-term loans and advances (455.05)

Other Non Current Assets 2.99

B2LH-,&!(,-".%/"*($/!#-!;<2!$/!#-!>"*("%'!/#,*(+"1*#?*1*,*!-M

Trade payables (601.68)

Other current liabilities (492.60)

Other long-term liabilities (1.68)

Short Term Provisions 0.49

(1,152.09)

Cash generated from operations 5,682.42

9!,"*($%&!",#@"<'#*2>;/!.H(2- (1,914.49)

!"#$%&'($)*+$,-*./01'"2$345$*6"-&#347$&%#383#3"'$095 3,767.93

B. CASH FLOW FROM INVESTING ACTIVITIES

4#'*,#1"!@'!(2*,H/!"%("3@!2"#--!,-N"*($1H2*(+"$#'*,#1"#2F#($!- (249.43)

:/%$!!2-"./%&"-#1!"%."3@!2"#--!,- 28.16

Acquisition of Business (416.63)

Purchase of Investments - Others 19.05

Dividends received 118.48

Interest received - Others 2.93

!"#$%&'($)*+$,-*./01'"2$345$348"'#347$&%#383#3"'$0:5 (497.44)

MPS Limited

CONSOLIDATEDAA CASH FLOW STASTST TEAA MENT FOR THE YEAR 01-APRIL-2013 TO 31-MARCH-2014


63

Particulars


C. CASH FLOW FROM FINANCING ACTIVITIES

Repayment of long-term borrowings (15.43)

Finance cost (10.74)

Dividend paid (2,859.85)

Tax on dividend (486.03)

!"#$%&'($)*+$,-*./01'"2$345$;4&4%347$&%#383#3"'$0<5 (3,372.05)

!"#$34%-"&'"/02"%-"&'"5$34$<&'($&42$%&'($"=138&>"4#'$09?:?<5 (101.56)

Impact on Cash Flow on account of Foreign Currency Translation 40.97

Opening Balance of Cash* 1,109.22

B22MD"5%/!@"O#*(;<=%-->"P!F!/-#1"%.":Q (2.92)

Adjusted Opening Balance 1,106.30

Closing Balance of Cash ** 1,161.33

B22MD"5%/!@"O#*(;"<=%-->"%."4Q (115.62)

Adjusted Closing Balance 1,045.71

(60.59)

Cash and bank balances as per Balance Sheet (Refer Note 16) 1,161.49

Less: Bank balances not considered as Cash and cash equivalents

In earmarked accounts

-Unpaid dividends accounts 0.16

Cash and cash equivalents at the end of the year** 1,161.33

**Comprises:

(i) In current accounts 561.12

(ii) In EEFC accounts 600.21

(iii) In demand deposit accounts -

1,161.33

*represents balance of the holding company (Refer note 1)

!!"#$$%&'#()*(+"(%,!-".%/&*(+"'#/,"%.",0!"3(#($*#1"-,#,!&!(,-



Managing Director



MPS Limited

CONSOLIDATEDAA CASH FLOW STASTST TEAA MENT FOR THE YEAR 01-APR-2013 TO 31-MAR-2014 (contd.)



MPS LIMITED

NOTES FORMING PART OF THE CONSOLIDATED AA FINANCIAL STATT TEAA MENTS

NOTE-1: CORPORATE INFORMATION:

Background

MPS Limited (“the Company”) is engaged in the business of providing publishing solutions viz., type setting and data digitization services for %F!/-!#-"R"-H''%/,-"*(,!/(#,*%(#1"'H?1*-0!/-",0/%H+0"!F!/)"-,#+!"%.",0!"#H,0%/D,%D/!#2!/"'H?1*-0*(+"'/%$!--"#(2"'/%F*2!-"#"2*+*,#1D3/-,"strategy for publishers across content production, enhancement and transformation, delivery and customer support. This digital focus -'#(-"#$/%--" ST;#$#2!&*$N"0*+0!/"!2H$#,*%(N",/#2!"#(2"2*/!$,%/)"&#/I!,-U

S0!"4%&'#()"%E!/-"#"2*F!/-!"+!%+/#'0*$"-'/!#2"C*,0"'/%2H$,*%(".#$*1*,*!-"/!+*-,!/!2"H(2!/",0!" %.,C#/!"S!$0(%1%+)":#/I"%."V(2*#"< S:V>"scheme in Chennai, New Delhi, Gurgaon and Bengaluru. The Company also operates with other production facilities in Dehradun, Noida and !2*,%/*#1"#(2"&#/I!,*(+"%7$!-"*("K(*,!2" ,#,!-"#(2"K(*,!2"W*(+2%&U

During the year, the Company has incorporated a wholly owned subsidiary namely MPS North America LLC (MPS NA LLC, the subsidiary) on 29th May 2013, as a limited liability company under the laws of the State of Florida in the United States of America. Consequently, the 4%(-%1*2#,!2"5*(#($*#1" ,#,!&!(,-"%.",0!"4%&'#()"#/!"?!*(+"/!'%/,!2".%/",0!"3/-,",*&!"#(2",0!/!"#/!"(%"$%//!-'%(2*(+"3+H/!-".%/",0!"previous year. As at 31-March-2014, the Company held 18000 Units of MPS NA LLC, representing 100% of the issued, subscribed and paid up Units of the subsidiary. The original cost of such Investment made by the Company during the year is Rs.1047.24 lacs. The subsidary 'H/$0#-!2",0!"?H-*(!--"%."#"K "X(,*,)"F*YUN"X1!&!(,"==4"F*2!"#"B--!,":H/$0#-!"B+/!!&!(,"!E!$,*F!"Z[,0"\H1)"Z]^_"<P!.!/"9%,!"Z`>U

NOTE-2: SIGNIFICANT ACCOUNTING POLICIES

Note-2.1: Basis of Accounting and Preparation of Consolidated Financial Statements

#> S0!" 4%(-%1*2#,!2" 3(#($*#1" -,#,!&!(,-" %." ,0!" 4%&'#()" #(2" *,-" -H?-*2*#/)" </!.!//!2" ,%" #-" a,0!" O/%H'b>" 0#F!" ?!!(" '/!'#/!2" *("#$$%/2#($!"C*,0"+!(!/#11)"#$$!',!2"#$$%H(,*(+"'/*($*'1!-"*("V(2*#"<V(2*#("OBB:>",%"$%&'1)"C*,0",0!"#$$%H(,*(+"-,#(2#/2-"(%,*3!2"under Section 211 (3C) of the Companies Act, 1956 (“the 1956 Act”) (which continues to be applicable in respect of Section 133 of the 4%&'#(*!-"B$,N"Z]^_"<a,0!"Z]^_"B$,b>"*(",!/&-"%."O!(!/#1"$*/$H1#/"^c;Z]^_"2#,!2"^_" !',!&?!/"Z]^_"%.",0!"T*(*-,/)"%."4%/'%/#,!"BE#*/->"#(2",0!"/!1!F#(,"'/%F*-*%(-"%.",0!"^dc`"B$,;Z]^_"B$,N"#-"#''1*$#?1!U"S0!"3(#($*#1"-,#,!&!(,-"%.",0!"-H?-*2*#/)"H-!2"*(",0!"consolidation are drawn up to the same reporting date as that of the holding company.

b) Principles of consolidationS0!"3(#($*#1"-,#,!&!(,-"%.",0!"4%&'#()"#(2"*,-"-H?-*2*#/)"F*YUN"T: "9B"==4"0#F!"?!!("$%(-%1*2#,!2"%("#"1*(!"?)"1*(!"?#-*-"?)"#22*(+"together like items of assets, liabilities, income, expenses, after eliminating intra-group transactions and any unrealized gains or 1%--!-"*("#$$%/2#($!"C*,0",0!"B$$%H(,*(+" ,#(2#/2"D"Z^"%("a4%(-%1*2#,!2"5*(#($*#1" ,#,!&!(,-b"<B "Z^>U"S0!"3(#($*#1"-,#,!&!(,-"%."the Company and its subsidiary have been consolidated using uniform accounting policies for like transactions and other events in similar circumstances.

Note-2.2: Use of Estimates

S0!"'/!'#/#,*%("%.",0!"3(#($*#1"-,#,!&!(,-"*("$%(.%/&*,)"C*,0"V(2*#("OBB:"/!GH*/!-",0!"T#(#+!&!(,",%"&#I!"!-,*&#,!-"#(2"#--H&',*%(-"considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during ,0!")!#/U"S0!"T#(#+!&!(,"?!1*!F!-",0#,",0!"!-,*&#,!-"H-!2"*("'/!'#/#,*%("%.",0!"3(#($*#1"-,#,!&!(,-"#/!"'/H2!(,"#(2"/!#-%(#?1!U"5H,H/!"/!-H1,-"$%H12"2*E!/"2H!",%",0!-!"!-,*&#,!-"#(2",0!"2*E!/!($!-"?!,C!!(",0!"#$,H#1"/!-H1,-"#(2",0!"!-,*&#,!-"#/!"/!$%+(*-!2"*(",0!"'!/*%2-"*("C0*$0",0!"/!-H1,-"#/!"I(%C(;&#,!/*#1*-!U

Note-2.3: Inventories

Inventories comprising Work in Process cost of typesetting & data digitization services are valued at the lower of cost and net realisable value on weighted average basis. The cost comprises direct cost and appropriate proportion of overheads.

!*#"@ABCD$<&'($&42$<&'($E=138&>"4#'$0F*-$G1-6*'"'$*,$<&'($F>*+$H#&#"."4#5

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and C0*$0"#/!"-H?L!$,",%"*(-*+(*3$#(,"/*-I"%."$0#(+!-"*("F#1H!U

!*#"@ABID$<&'($F>*+$H#&#"."4#

4#-0"e%C-"#/!"/!'%/,!2"H-*(+",0!"*(2*/!$,"&!,0%2N"C0!/!?)"'/%3,;<1%-->"?!.%/!"!@,/#%/2*(#/)"*,!&-"#(2",#@"*-"#2LH-,!2".%/",0!"!E!$,-"%.",/#(-#$,*%(-"%."(%(D$#-0"(#,H/!"#(2"#()"2!.!//#1-"%/"#$$/H#1-"%."'#-,"%/".H,H/!"$#-0"/!$!*',-"%/"'#)&!(,-U"S0!"$#-0"e%C-"./%&"%'!/#,*(+N"*(F!-,*(+"#(2"3(#($*(+"#$,*F*,*!-"%.",0!"4%&'#()"#/!"-!+/!+#,!2"?#-!2"%(",0!"#F#*1#?1!"*(.%/&#,*%(U


65

Note-2.6: Depreciation and Amortisation

Depreciation has been provided on the Written down Value method as per the rates prescribed in Schedule XIV to the Companies Act, 1956 except in respect of the following categories of assets, in whose case the life of the assets has been assessed as under:

(i) Assets costing less than Rs. 5,000 each are fully depreciated in the year of capitalisation.

<**> S0!"$%-,"%."*&'/%F!&!(,-",%"1!#-!0%12"'/!&*-!-"*-"#&%/,*Y!2"%F!/",0!"'/*&#/);!@,!(2!2"'!/*%2"%."1!#-!U

(iii) Computer software of the publishing solutions business is amortized over a period of 2 to 5 years, based on the future economic ?!(!3,-N"#-"!-,*&#,!2"?)",0!"&#(#+!&!(,U

(iv) Fixed assets located at the branch and subsidary in United States of America are depreciated based on their estimated useful life as follows:

f :1#(,"R"T#$0*(!/)"g"c",%"^]")!#/-U

f 5H/(*,H/!"R"5*@,H/!-"g"[")!#/-

However, if the Management’s estimate of the useful lives of the tangible asset at the time of acquisition of the asset or of the remaining useful life on a subsequent review is shorter than that envisaged, depreciation is provided at a higher rate based on the !"!#$ $"%&'($'%) !%$(*+(%,$(-'$+-.(.)+$/0$ !)")"#(-'$+-.(.)+$

Goodwill arising from acquisition of business is not amortised, but evaluated at year end for impairment, if any.

1,$($'%) !%$2(-'$+-.( .)+$(*+( %,$( )"%!"#)3.$(!''$%'(!"2( %,$(! *0%)'!%)*"(4$0)*2(!0$( 0$5)$6$2(!%( %,$($"2(*+($!7,(9"!"7)!.( :$!0(!"2( %,$(2$40$7)!%)*"/! *0%)'!%)*"()'(0$5)'$2(%*(0$;$7%(%,$(7,!"#$2(4!%%$0"<

Note-2.7: Revenue Recognition

=$5$"-$()'(0$7*#")>$2(*"(2$.)5$0:(*+(40*?$7%'(*0(!'(4$0(%$0 '('4$7)9$2()"(7*"%0!7%'/4-07,!'$(*02$0'(0$7$)5$2(+0* (7-'%* $0'<

Revenues for web-site design and development are recognised based on the percentage of completion of the project. Revenues from web-site hosting are recognised ratably over the year for which the site is hosted.

Note-2.8: Other Income

Interest income is accounted on accrual basis. Dividend income is accounted for when the right to receive it is established.

Rental Income is recognized as per contractual terms.

!"#$%&'()*+,#-).//#"/)01234+56#783"234+56#9

@)A$2( B''$%'( !0$( 7!00)$2( !%( 7*'%( .$''( !77- -.!%$2( 2$40$7)!%)*"/! *0%)>!%)*"( !"2( ) 4!)0 $"%( .*''$'C( )+( !":<( 1,$( 7*'%( *+( 9A$2( !''$%'(comprises its purchase price net of any trade discounts and rebates, any import duties and other taxes (other than those subsequently recoverable from the tax authorities), any directly attributable expenditure on making the asset ready for its intended use, other incidental $A4$"'$'(!"2()"%$0$'%(*"(3*00*6)"#'(!%%0)3-%!3.$(%*(!7D-)')%)*"(*+(D-!.)+:)"#(9A$2(!''$%'(-4(%*(%,$(2!%$(%,$(!''$%()'(0$!2:(+*0()%'()"%$"2$2(-'$<(E-3'$D-$"%($A4$"2)%-0$(*"(9A$2(!''$%'(!+%$0()%'(4-07,!'$/7* 4.$%)*"()'(7!4)%!.)'$2(*".:()+('-7,($A4$"2)%-0$(0$'-.%'()"(!"()"70$!'$()"(%,$(+-%-0$(3$"$9%'(+0* ('-7,(!''$%(3$:*"2()%'(40$5)*-'.:(!''$''$2('%!"2!02(*+(4$0+*0 !"7$<

Intangible assets that are acquired by the company are measured initially at cost. After initial recognition, an intangible asset is carried at its costs less any accumulated amortization and any accumulated impairment loss. Intangible assets comprise of software where it )'($A4$7%$2(%*(*3%!)"( +-%-0$($"2-0)"#($7*"* )7(3$"$9%'<(F!4)%!.)>!%)*"(7*'%'( )"7.-2$( .)7$"'$(+$$'(!"2(7*'%'(*+( ) 4.$ $"%!%)*"/':'%$ (integration services. The Costs are capitalized in the year in which the relevant software is implemented for use.

G**26)..(7* 40)'$'(%,$($A7$''(*+(4-07,!'$(7*"')2$0!%)*"(*5$0(%,$(+!)0(5!.-$(*+(%,$("$%(!''$%'(!7D-)0$2(7.!'')9$2(!'(!"(!''$%(*"(%,$(3!.!"7$(sheet.

Capital work-in-process:

Projects under which assets are not ready for their intended use and other capital work-in-progress are carried at cost, comprising direct cost, related incidental expenses and attributable interest.

Note-2.10: Foreign currency transactions and translations

Transactions in foreign currencies entered into by the Company and its integral foreign operations are accounted at the exchange rates prevailing on the date of the transaction or at rates that closely approximate the rate at the date of the transaction.

Foreign currency monetary items (other than derivative contracts) of the Company and its integral foreign operations outstanding at the balance sheet date are restated at the year-end rates. Non-monetary items are carried at historical cost.

HA7,!"#$(2)I$0$"7$'(!0)')"#(*"('$%%.$ $"%/0$'%!%$ $"%(*+(+*0$)#"(7-00$"7:( *"$%!0:(!''$%'(!"2(.)!3).)%)$'(*+(%,$(F* 4!":(!0$(0$7*#")'$2(!'()"7* $(*0($A4$"'$()"(%,$(E%!%$ $"%(*+(J0*9%(!"2(K*''<



The Financial statements of the non-integral foreign operations are translated into Indian Rupees as follows:

L)M B..(B''$%'(N(K)!3).)%)$'C( *"$%!0:(!"2("*"O *"$%!0:(!0$(%0!"'.!%$2(!%(%,$(:$!0/4$0)*2($"2(0!%$<(

(ii) Income and Expense items are translated at the average rates.

L)))M 1,$(=$'-.%)"#(P$%($A7,!"#$(2)I$0$"7$( )'(70$2)%$2(*0(2$3)%$2( %*(!( +*0$)#"(7-00$"7:( %0!"'.!%)*"( 0$'$05$(!"2(!77- -.!%$2( %)..( %,$(disposal of the net investment.

QJE(PB(KKF(,!'(3$$"()2$"%)9$2(!'("*"O)"%$#0!.(*4$0!%)*"'<

Accounting of forward contracts

J0$ )- /2)'7*-"%(*"(+*06!02($A7,!"#$(7*"%0!7%'C(6,)7,(!0$("*%()"%$"2$2(+*0(%0!2)"#(*0('4$7-.!%)*"(4-04*'$'C(!0$(! *0%)'$2(*5$0(%,$(period of the contracts if such contracts relate to monetary items as at the Balance Sheet date.

=$+$0(P*%$(R<ST(+*0(!77*-"%)"#(+*0(+*06!02($A7,!"#$(7*"%0!7%'(0$.!%)"#(%*(90 (7* )% $"%'(!"2(,)#,.:(40*3!3.$(+*0$7!'%(%0!"'!7%)*"'<

Note-2.11: Investments

Long-term investments are carried individually at cost less provision for diminution, other than temporary, in the value of such investments. Current investments are carried individually, at the lower of cost and fair value. Cost of investments includes acquisition charges such as brokerage, fees and duties.

!"#$%&:%();<=6!>##)?#3#@"/

H 4.*:$$(3$"$9%'()"7.-2$(7*"%0)3-%)*"(%*(J0*5)2$"%(+-"2C(E-4$0!""-!%)*"(+-"2C(G0!%-)%:(+-"2C(F* 4$"'!%$2(!3'$"7$'(!"2(H 4.*:$$(E%!%$(Insurance scheme.

!"#!$%&'#()*+,(*'#%-./#0

1,$(F* 4!":&'(7*"%0)3-%)*"(%*(40*5)2$"%( +-"2C('-4$0!""-!%)*"(+-"2(!"2($ 4.*:$$('%!%$( )"'-0!"7$('7,$ $(!0$(7*"')2$0$2(!'(2$9"$2(contribution plans and are charged as an expense as they fall due based on the amount of contribution required to be made and when services rendered by the employees.

!"#!$%1!#!"(%-./#0

@*0(2$9"$2(3$"$9%(4.!"'()"(%,$(+*0 (*+(#0!%-)%:(+-"2C(%,$(7*'%(*+(40*5)2)"#(3$"$9%'()'(2$%$0 )"$2(-')"#(%,$(J0*?$7%$2(U")%(F0$2)%( $%,*2C(with actuarial valuations being carried out at each Balance Sheet date. Actuarial gains and losses are recognised in the Statement of J0*9%(!"2(K*''()"(%,$(4$0)*2()"(6,)7,(%,$:(*77-0<(J!'%('$05)7$(7*'%()'(0$7*#")'$2() $2)!%$.:(%*(%,$($A%$"%(%,!%(%,$(3$"$9%'(!0$(!.0$!2:(5$'%$2(!"2(*%,$06)'$()'(! *0%)'$2(*"(!('%0!)#,%O.)"$(3!')'(*5$0(%,$(!5$0!#$(4$0)*2(-"%).(%,$(3$"$9%'(3$7* $(5$'%$2<(1,$(0$%)0$ $"%(3$"$9%(*3.)#!%)*"(0$7*#")'$2()"(%,$(V!.!"7$(E,$$%(0$40$'$"%'(%,$(40$'$"%(5!.-$(*+(%,$(2$9"$2(3$"$9%(*3.)#!%)*"(!'(!2?-'%$2(+*0(-"0$7*#")'$2(4!'%(service cost, as reduced by the fair value of scheme assets. Any asset resulting from this calculation is limited to past service cost, plus the present value of available refunds and reductions in future contributions to the schemes.

23')(45!)6%768.'9!!%1!#!"(0

1,$(-"2)'7*-"%$2(! *-"%(*+( ',*0%O%$0 ($ 4.*:$$(3$"$9%'($A4$7%$2( %*(3$(4!)2( )"($A7,!"#$( +*0( %,$( '$05)7$'( 0$"2$0$2(3:($ 4.*:$$'(!0$(0$7*#")'$2(2-0)"#(%,$(:$!0(6,$"(%,$($ 4.*:$$'(0$"2$0(%,$('$05)7$<(1,$'$(3$"$9%'()"7.-2$(4$0+*0 !"7$()"7$"%)5$(!"2(7* 4$"'!%$2(absences which are expected to occur within twelve months after the end of the period in which the employee renders the related service. The cost of such compensated absences is accounted as under:

a) In case of accumulated compensated absences, when employees render the services that increase their entitlement of future compensated absences; and

b) In case of non-accumulating compensated absences, when the absences occur.In case of non-accumulating compensated absences, when the absences occurIn case of non-accumulating compensated absences, when the absences occur

:'#;45!)6%768.'9!!%1!#!"(0

Compensated absences which are not expected to occur within twelve months after the end of the period in which the employee renders %,$(0$.!%$2('$05)7$(!0$(0$7*#")'$2(!'(!(.)!3).)%:(!%(%,$(40$'$"%(5!.-$(*+(%,$(2$9"$2(3$"$9%(*3.)#!%)*"(!'(!%(%,$(V!.!"7$(E,$$%(2!%$(.$''(%,$(fair value of the plan assets out of which the obligations are expected to be settled.

Note-2.13: Leases

Lease arrangements where the risks and rewards incidental to ownership of an asset substantially vest with the lessor are recognised as *4$0!%)"#(.$!'$'<(K$!'$(0$"%!.'(-"2$0(*4$0!%)"#(.$!'$'(!0$(0$7*#")'$2()"(%,$(E%!%$ $"%(*+(J0*9%(!"2(K*''(*"(!('%0!)#,%O.)"$(3!')'<


67

Note-2.14: Earnings Per Share

V!')7($!0")"#'(4$0(',!0$()'(7* 4-%$2(3:(2)5)2)"#(%,$(40*9%/L.*''M(!+%$0(%!A(L)"7.-2)"#(%,$(4*'%O%!A($I$7%(*+($A%0!*02)"!0:()%$ 'C()+(!":M(3:(%,$(weighted average number of equity shares outstanding during the year.

Note-2.15: Taxes on Income

Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income Tax Act, 1961 and applicable foreign tax laws.

Q)") - (B.%$0"!%$(1!A(LQB1M(4!)2()"(!77*02!"7$(6)%,(%,$(%!A(.!6'C(6,)7,(#)5$'(+-%-0$($7*"* )7(3$"$9%'()"(%,$(+*0 (*+(!2?-'% $"%(%*(+-%-0$(income tax liability, is considered as an asset if there is convincing evidence that the Company will pay normal income tax. Accordingly, MAT )'(0$7*#")'$2(!'(!"(!''$%()"(%,$(V!.!"7$(E,$$%(6,$"()%()'(40*3!3.$(%,!%(+-%-0$($7*"* )7(3$"$9%(!''*7)!%$2(6)%,()%(6)..(;*6(%*(%,$(F* 4!":<

W$+$00$2( %!A( )'( 0$7*#")'$2( *"( %) )"#(2)I$0$"7$'C( 3$)"#( %,$( 2)I$0$"7$'( 3$%6$$"( %,$( %!A!3.$( )"7* $(!"2( %,$( !77*-"%)"#( )"7* $( %,!%(originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax is measured using the tax rates and the %!A(.!6'($"!7%$2(*0('-3'%!"%)5$.:($"!7%$2(!'(!%(%,$(0$4*0%)"#(2!%$<(W$+$00$2(%!A(.)!3).)%)$'(!0$(0$7*#")'$2(+*0(!..(%) )"#(2)I$0$"7$'<(W$+$00$2(tax assets in respect of unabsorbed depreciation and carry forward of losses are recognised only if there is virtual certainty that there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

Note-2.16: Impairment of Assets

1,$(7!00:)"#(5!.-$'(*+(!''$%'/7!',(#$"$0!%)"#(-")%'(!%($!7,(V!.!"7$(E,$$%(2!%$(!0$(0$5)$6$2(+*0() 4!)0 $"%<(Y+(!":()"2)7!%)*"(*+() 4!)0 $"%(exists, the recoverable amount of such assets is estimated and impairment is recognised, if the carrying amount of these assets exceeds their recoverable amount. The recoverable amount is the greater of the net selling price and their value in use. Value in use is arrived !%(3:(2)'7*-"%)"#(%,$(+-%-0$(7!',(;*6'(%*(%,$)0(40$'$"%(5!.-$(3!'$2(*"(!"(!440*40)!%$(2)'7*-"%(+!7%*0<(Z,$"(%,$0$()'()"2)7!%)*"(%,!%(!"(impairment loss recognised for an asset in earlier accounting periods no longer exists or may have decreased, such reversal of impairment .*''()'(0$7*#")'$2()"(%,$(E%!%$ $"%(*+(J0*9%(!"2(K*''C($A7$4%()"(7!'$(*+(0$O5!.-$2(!''$%'<

Note-2.17: Provisions and Contingencies

B(40*5)')*"( )'( 0$7*#")'$2(6,$"( %,$(F* 4!":(,!'(!(40$'$"%(*3.)#!%)*"(!'(!( 0$'-.%(*+(4!'%($5$"%'(!"2( )%( )'(40*3!3.$( %,!%(!"(*-%;*6(*+(resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement 3$"$9%'M(!0$("*%(2)'7*-"%$2(%*(%,$)0(40$'$"%(5!.-$(!"2(!0$(2$%$0 )"$2(3!'$2(*"(%,$(3$'%($'%) !%$(0$D-)0$2(%*('$%%.$(%,$(*3.)#!%)*"(!%(%,$(V!.!"7$(E,$$%(2!%$<(1,$'$(!0$(0$5)$6$2(!%($!7,(V!.!"7$(E,$$%(2!%$(!"2(!2?-'%$2(%*(0$;$7%(%,$(7-00$"%(3$'%($'%) !%$'<(F*"%)"#$"%(.)!3).)%)$'(are disclosed in the Notes.

Note-2.18: Derivative Contracts

The Company enters into derivative contracts in the nature of foreign currency forward contracts with an intention to hedge its existing !''$%'(!"2( .)!3).)%)$'C(90 (7* )% $"%'(!"2(,)#,.:(40*3!3.$( %0!"'!7%)*"'<(W$0)5!%)5$(7*"%0!7%'(6,)7,(!0$(7.*'$.:( .)"[$2( %*( %,$($A)'%)"#(assets and liabilities are accounted as per the policy stated for Foreign Currency Transactions and Translations.

B..(*%,$0(2$0)5!%)5$(7*"%0!7%'(!0$( !0[$2O%*O !0[$%(!"2(.*''$'(!0$(0$7*#")'$2()"(%,$(E%!%$ $"%(*+(J0*9%(!"2(K*''<(G!)"'(!0)')"#(*"(%,$(same are not recognised, until realised, on grounds of prudence.

Note-2.19: Service Tax Input Credit

Service tax input credit is accounted for in the books in the period in which the underlying service received is accounted and when there is "*(-"7$0%!)"%:()"(!5!).)"#/-%).)')"#(%,$(70$2)%'<

Note-2.20: Operating Cycle

V!'$2(*"(%,$("!%-0$(*+('$05)7$'/!7%)5)%)$'(%,$(F* 4!":(,!'(2$%$0 )"$2()%'(*4$0!%)"#(7:7.$(!'(SR( *"%,'(+*0(%,$(4-04*'$(*+(7.!'')97!%)*"(of its assets and liabilities as current and non-current.



As at 31-Mar-2014

Particulars Number of shares Amount in INR Lacs

(a) Authorised share capital

HD-)%:(',!0$'(*+(='<S\/O($!7,(6)%,(5*%)"#(0)#,%' 200,00,000 2,000.00

(b) Issued, Subscribed and fully paid up share capital

HD-)%:(',!0$'(*+(='<S\/O($!7,(6)%,(5*%)"#(0)#,%' 168,22,668 1,682.27

1,682.27

As at 31-Mar-2014

Particulars Number of shares Amount in INR Lacs

;AB+">)/C2D#/)0E+"C)F!"+34)D+4C"/9

At the beginning of the year 168,22,668 1,682.27

B22](@0$',()''-$/3-:3!7[(*+(',!0$' ^ ^

At the end of the year 168,22,668 1,682.27

Particulars

As at 31-Mar-2014

Number of shares

ADI BPO Services Limited, the holding company 126,16,996

As at 31-Mar-2014

Class of shares/Name of shareholder

Number of shares held


Equity shares ADI BPO Services Limited 126,16,996 75.00%

Note 3 Share capital

Notes:

(i) Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the reporting period:

0++9)1#D</7D+4C"/)2""2GC#-)"!)#AB+">)/C2D#/

1,$(F* 4!":(,!'(*".:(*"$(7.!''(*+($D-)%:(',!0$'(,!5)"#(!(4!0(5!.-$(*+(YP=(S\/4$0(',!0$<(H!7,(,*.2$0(*+($D-)%:(',!0$'()'($"%)%.$2(%*(*"$(5*%$(per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amount. The distribution will be in proportion to number of equity shares held by the shareholders.

(iii) Details of shares held by the holding company, the ultimate holding company, their subsidiaries and associates:

;AB+">)/C2D#/)E+"C)F!"+34)D+4C"/

(iv) Details of shares held by each shareholder holding more than 5% shares:


69

As at 31-Mar-2014

Particulars INR in Lacs

(a) Foreign Currency Translation Reserve ^

Opening balance 39.77

Movement during the year 39.77

Closing balance

(b) General reserve:

Opening balance 427.61

(((((B22](10!"'+$00$2(+0* ('-04.-'()"(E%!%$ $"%(*+(J0*9%(!"2(K*'' 434.44

Closing balance 862.05

L7M(E-04.-'()"(E%!%$ $"%(*+(J0*9%(!"2(K*'']

Opening balance 6,154.77

((((B22](J0*9%(+*0(%,$(:$!0 4,214.40

Less: Interim dividend 2,859.85

Tax on dividends 486.03

Transferred to general reserve 434.44

Closing Balance 6,588.85

7,490.67

Note 4 Reserves and surplus

!"#)H)I!34$"#D<)5!DD!E+34/

As at 31-Mar-2014


Long-term Secured loans from Bank (Refer note (i) below) 1.80

1.80

As at 31-Mar-2014


Long-term Secured loans from Bank 7.32

(i) Repayable over a period of 36 monthly instalmants with interest of 9.75% to 14.50% p.a., Vehicles 4-07,!'$2(!#!)"'%(%,$'$(.*!"'(!0$(*I$0$2(!'('$7-0)%:

Less: Current Maturities of Long-term Secured loans from Bank (As per Note 9) 5.52

1.80

0+9)J#"2+6/)!K)"#D</)!K)D#=2><#3")K!D)"C#)6!34$"#D<)5!DD!E+34/)+3G6B-+34)LBDD#3")M2"BD+"+#/)0N#K#D) !"#)'9)23-)/#GBD+">)=D!F+-#-&



!"#)O)PC!D"$"#D<)5!DD!E+34/

Note 8 Trade payables

Note 9 Other current liabilities

As at 31-Mar-2014


Unsecured Loan 362.69

362.69

As at 31-Mar-2014


Trade payables - Other than acceptances 1,577.89

1,577.89

As at 31-Mar-2014


(a) Current maturities of secured loan (Refer Note 5) 5.52

(b) Income received in advance (Unearned revenue) 92.54

(c) Unclaimed dividends* 0.16

(d) Rental Deposits 100.33

(e) Book Overdraft 46.71

(f) Interest accrued but not due 36.77

(g) Other payables:

(i) Statutory remittances (Contributions to PF and ESIC, Withholding Taxes, VAT, Service Tax, etc.) 138.36

L))M(J!:!3.$'(*"(4-07,!'$(*+(9A$2(!''$%' 32.67

(iii) Advances from customers 25.12

(iv) Others :

Gratuity 29.97

Others 13.45

521.60

* There is no amount falling due as at the Balance Sheet date to be credited to the Investor Education and Protection Fund and the above amount represents Dividend Warrants issued but not encashed and excludes unencashed demand drafts of INR 21.70 Lacs.

Note 10 Short-term provisions

As at 31-Mar-2014


(a) Provision for tax (net of payments) 109.42

(b) Provision for Compensated absences 0.49

109.91

Note 6 Other long-term liabilities

As at 31-Mar-2014


Rent-equalisation reserve 7.42

7.42


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Note 12 Long-term loans and advances

Note 13 Other non-current assets

Note 14 Current investments

As at 31-Mar-2014


(a) Security deposits

Unsecured, considered good (Refer Note below) 381.16

Doubtful 60.00

441.16

Less: Provision for doubtful deposits 60.00

381.16

(b) Prepaid expenses - Unsecured, considered good 9.81

(c) Advance income tax (net of provisions) 117.27

(d) Balances with government authorities - Unsecured, considered good

(i) VAT refund receivable 6.52

(ii) Service Tax credit receivable 1,567.16

(e) Others

Doubtful 15.76

15.76

Less: Provision for doubtful loans and advances 15.76

2,081.92

Note: !"#$%&'()!*+,%&(%-".#/!,(012(344(56",(*.6"!/(7%&8(8+./%-9("+:*6-'(;<)0(=>?( !$@%"!,(5&/AB(6,($!-&6.(/!*+,%&A

As at 31-Mar-2014


(a) Balances held as margin money or security against guarantees 14.35

14.35


Particulars Units ‘000 INR in Lacs

Investment in mutual funds

Birla Sun Life Cash Plus - Daily Dividend Direct Plan 463.56 464.45

J&$-K!<#CD#5!L)%'.'!6I-+!3!*!M#(')$!6I-+*!M-#I9!M#;#5'+5N 21.95 268.25

DWS Ultra Short Term Fund - Direct Plan- Daily Dividend 1,497.32 150.00

Reliance Fixed Horizon Fund-XXIII Series 7 Growth Plan 2,000.00 200.00

Reliance Liquid Fund - Treasury Plan - Daily Dividend 27.58 421.37

Axis Treasury Advantage Fund - Direct Plan - Daily Dividend 24.88 250.00

4,035.29 1,754.07

Aggregate market value of quoted investments 1,773.21

N1D$D-I!OD+5!P+#$,!;-ID'5!Q!G,RSBB!<-),!7I'5:'5!"#$%!J&$-K!1-%#+5(-!T-+K!-,!L')D(#$9!$&"-(5,!Hedging facilities availed by the Company.

Note 15 Inventories(At lower of cost and net realisable value)

As at 31-Mar-2014


Work-in-process (Cost of type-setting and Data Digitization in progress) 782.79

782.79


73

Note 16 Trade receivables (Unsecured)

Note 17 Cash and cash equivalents

As at 31-Mar-2014


Trade Receivable for a period exceeding six months

Considered good 79.97

Doubtful 47.10

127.07

Less: Provision for doubtful trade receivables 47.10

79.97

Other Trade receivables

Considered good 3,135.41

Doubtful 13.31

3,148.72

Less: Provision for doubtful trade receivables 13.31

3,135.41

3,215.38

As at 31-Mar-2014


Balances with banks

(i) In current accounts 561.12

(ii) In EEFC accounts 600.21

(iii) In demand deposit accounts –

(iv) Unclaimed dividend accounts 0.16

1,161.49

UD$!&/!$%'!-4&;'!$%'!4-I-+)',!$%-$!.''$!$%'!5'V+#$#&+!&/!W-,%and Cash equivalents as per AS 3 Cash Flow Statement is:

1,161.33

Note 18 Short-term loans and advances

As at 31-Mar-2014


(a) Security Deposits 1.56

Doubtful 1.46

3.02

Less: Provision for doubtful deposits 1.46

1.56

(b) Loans and advances to employees

Unsecured, considered good 9.47

Doubtful 10.17

19.64

Less: Provision for doubtful loans and advances 10.17

9.47

(c) Prepaid expenses 184.88

(d) Balances with government authorities

(i) VAT credit receivable 5.52

(e) Others

Unsecured, considered good 25.75

227.18



Note 20 Revenue from operations



Sale of services

(i) Exports (Earnings in Foreign Currency) 19,705.53

(ii) Domestic 22.96

19,728.49

Note 19 Other current assets

As at 31-Mar-2014


(a) Interest accrued on deposits 0.35

X4Y!G')'#;-4I',!&+!,-I'!&/!VZ'5!-,,'$, 1.11

(c) Others 1.34

2.80

Note 21 Other Income



(a) Interest income (Refer Note (i) below) 2.52

(b) Dividend Income:

From current investments (mutual funds) 118.48

(c) Other non-operating income (Refer note (ii) below) 545.60

666.60



Note (i) Interest income comprises:

(a) Interest from Banks on Deposits 2.52

2.52

Note (ii) Other non-operating income comprises:

(a) Rental income from operating leases 145.33

!!!!!!!!!!!!!!X4Y!<#-4#I#$#',H7(&;#,#&+,!+&!I&+:'(!('CD#('5!"(#$$'+!4-)K! 239.07

(c) Provision for trade receivables no longer required written back 30.76

!!!!!!!!!!!!!!X5Y!T-5!M'4$,H35;-+)',!G')&;'('5! 0.58

!!!!!!!!!!!!!!X'Y!6(&V$!&+!L-I'!&/!O#Z'5!3,,'$,! 16.39

(f) Miscellaneous income 113.47

545.60


75

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Note 24 Finance costs



Inventories at the end of the year:

Work-in-process 782.79

Inventories at the beginning of the year:

Work-in-process 889.55

106.76



Salaries and wages 7,527.34

Contributions to provident and other funds (Refer Note 28) 464.43

L$-[!"'I/-('!'Z7'+,', 476.83

8,468.60



(a) Interest expense on:

(i) Delayed payment of income tax 36.49

(ii) Borrowings 1.46

(iii) Others 0.48

38.43

* represents cost of Type-setting and Data Digitization services in progress



Consumables 44.18

Outsourcing cost 1,346.59

Power and fuel 440.62

Rent including lease rentals (Refer Note 31.1) 707.73

Hire Charges 25.75

Repairs and maintenance - Buildings 247.71

Repairs and maintenance - Plant and Machinery 144.19

Repairs and maintenance - Others 4.68

Insurance 32.45

Rates and taxes 29.92

Communication 254.81

Travelling and conveyance 514.90

Note 25 Other expenses

(contd.)





Payments to the auditors comprises (net of service tax input credit,

where applicable):

(i) For Audit (includes Rs.1 Lac for corporate governance reporting 33.50

and Rs. 3.5 Lacs for audit of Consolidated Financial Statement)

(ii) For taxation matters 27.00

(iii) For other services 4.50

(iv) Reimbursement of expenses 1.82

66.82

Note (i)



Legal and professional 194.10

Directors Sitting Fees 7.60

Commission to Non-executive directors 63.52

Payments to auditors (Refer Note (i) below) 66.82

T-5!$(-5'!(')'#;-4I',!"(#$$'+!&[ 113.27

Less: Provision utilised for the above 91.24

22.03

35;-+)',!"(#$$'+!&[ 39.93

Less: Provision utilised for the above 39.93

Provision for doubtful trade and other receivables, loans and advances 111.25

<&,,!&+!VZ'5!-,,'$,!,&I5H,)(-77'5H"(#$$'+!&[ 7.43

Net loss on foreign currency transactions and translation 319.32

Miscellaneous expenses 271.52

4,857.12

Note 25 Other expenses (contd.)

Note 26 Business Purchase

\%'!LD4,#5#-(9!W&.7-+9!7D(,D-+$!$&!-!W&D($!U(5'(!%-,!-)CD#('5!$%'!/&II&"#+:!-,,'$,HI#-4#I#$#',! /(&.!-!PL!'+$#$9!;#]R=!Î'.'+$!<<W!;#5'!3,,'$!6D()%-,'!3:(''.'+$!'[')$#;'!_DI9!S@=!SB>`R!\%'!-.&D+$!7-#5!49!$%'!W&.7-+9!#+!'Z)',,!&/!$%'!+'$!-,,'$,!-)CD#('5!#,!(')&:+#,'5!-,!Goodwill on acquisition, as detailed below:

ParticularsAmount

INR in Lacs

Value of assets taken over:

Plant & Machinery 27.25

Furniture & Fixtures 2.68

Software 25.50

Trade Receivables 197.34

252.77

Liabilities taken over:

Trade Payables 303.40

303.40

Net Value of assets taken over; (50.63)

Purchase Cost 416.63

Goodwill on acquisition 467.26


77

1+&!(CN(<//%&%+-6.(%-E+$:6&%+-(&+(&8!(L-6-"%6.(,&6&!:!-&,

As at 31-Mar-2014

Note Particulars INR in Lacs

27.1 Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities

Claims against the Company not acknowledged as debts

(a) Income Tax

Relating to transfer pricing adjustments and disallowance of export 853.58

commission and other deductions

(b) Service Tax

Penalty and interest for delayed payments, disallowance of input credit 675.56

and demand on overseas commission

(c) Employee State Insurance (ESI) and Provident Fund (PF) vendor payments 6.56

(d) Other Claims 256.00

\%'!-4&;'!-.&D+$,!-('!4-,'5!&+!$%'!+&$#)'!&/!5'.-+5H3,,',,.'+$!U(5'(,H)I-#.,!49!$%'!('I';-+$!-D$%&(#$#',H7-($#',!-+5!$%'!W&.7-+9!#,!)&+$',$#+:!$%','!)I-#.,R!UD$a&",=!#/!-+9=!-(#,#+:!&D$!&/!$%','!)I-#.,!"&DI5!5'7'+5!&+!$%'!&D$)&.'!&/!$%'!5')#,#&+,!of the appellate authorities and the Company’s rights for future appeals before the judiciary. No reimbursements are expected.

(ii) Commitments


Estimated amount of contracts remaining to be executed on capital account and not provided for: Tangible assets 57.52

57.52

27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 27.2 There are no micro and small enterprises, to whom the Company owes dues, which are outstanding for more than 45 days 5D(#+:!$%'!9'-(!-+5!-I,&!-,!-$!`>*1-(*SB>?!X6b!*!EFG!F#IYR!\%#,!#+/&(.-$#&+!%-,!4''+!#5'+$#V'5!&+!$%'!4-,#,!&/!#+/&(.-$#&+!available with the Company. This has been relied upon by the auditors.

27.3 Details on derivatives instruments and unhedged foreign currency exposures

(i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as (i) Forward exchange contracts entered into to hedge foreign currency risk of highly probable transactions and outstanding as at the Balance sheet date are as under :

Currency Amount in FCY Lacs Buy/Sell Amount in INR Lacs

USD 44(72) Sell

2,879.48(4039.38)

GBP 11(18) Sell

1,161.15(1579.80)

(ii) O8!('!6$G!-/(E+$!%9-("#$$!-"'(!M*+,#$!,(&86&(86@!(-+&(K!!-(8!/9!/(K'(6(/!$%@6&%@!(%-,&$#:!-&(+$(+&8!$7%,!(6$!(9%@!-(K!.+7P

As at 31-Mar-2014



AUD 24,131 13.34

CAD 2,030 1.10

EUR 192,955 159.54

GBP 114,800 114.53

USD 879,897 527.27

SGD 10,051 4.78

As at 31-Mar-2014



USD 617,611 370.64

GBP 267,052 266.42

EUR 18,156 15.01



1+&!(CN(<//%&%+-6.(%-E+$:6&%+-(&+(&8!(L-6-"%6.(,&6&!:!-&,(;"+-&/AB


27.4 Value of imports calculated on CIF basis: INR in Lacs

Capital goods 34.48


27.5 Expenditure in foreign currency: INR in Lacs

Outsourcing Cost 434.28

Salaries, Wages and bonus 303.25

Rates and taxes

Rent 38.35

Legal and Professional Charges 73.09

Repairs and Maintainence 13.80

Travel 48.41

Communication 118.35

Others 204.75

1,234.28

Disclosures under Accounting Standards

Note Particulars

28.1 J:*.+'!!(K!-!L&(*.6-,

28.1.a )!L-!/("+-&$%K#&%+-(*.6-,

The Company makes contributions to Provident Fund, Superannuation Fund and Employee State Insurance (ESI) Scheme /&(!CD-I#/9#+:!'.7I&9'',R!P+5'(!$%'!L)%'.',=!$%'!W&.7-+9!#,!('CD#('5!$&!)&+$(#4D$'!-!,7')#V'5!7'()'+$-:'!&/!$%'!7-9(&II!)&,$,!$&!/D+5!$%'!4'+'V$,R!\%'!W&.7-+9!(')&:+#,'5!EFG!`ScR>c!<-),!/&(!6(&;#5'+$!OD+5!)&+$(#4D$#&+,=!EFG!dR`B!<-),!/&(!LD7'(-++D-$#&+!OD+5!W&+$(#4D$#&+,!-+5!EFG!d>Rc?!<-),!/&(!^LE!#+!$%'!L$-$'.'+$!&/!6(&V$!-+5!<&,,R!\%'!)&+$(#4D$#&+,!7-9-4I'!$&!$%','!7I-+,!49!$%'!W&.7-+9!-('!-$!(-$',!,7')#V'5!#+!$%'!(DI',!&/!$%'!,)%'.',R

28.1.b )!L-!/(K!-!L&(*.6-,

\%'!W&.7-+9!&['(,!$%'!/&II&"#+:!'.7I&9''!4'+'V$!,)%'.',!$&!#$,!'.7I&9'',e

i. 2(-$D#$9!X#+)ID5'5!-,!7-($!&/!)&+$(#4D$#&+!$&!7(&;#5'+$!-+5!&$%'(!/D+5,!#+!+&$'!S?=!'.7I&9'',!4'+'V$!'Z7'+,',Y

\%'!/&II&"#+:!$-4I'!,'$,!&D$!$%'!/D+5'5!,$-$D,!&/!$%'!5'V+'5!4'+'V$!,)%'.',!-+5!$%'!-.&D+$!(')&:+#,'5!#+!$%'!V+-+)#-I!,$-$'.'+$,e!!

INR in Lacs

Particulars

As at31-Mar-2014

Components of employer expenseCurrent service costInterest costExpected return on plan assets3)$D-(#-I!I&,,',HX:-#+,Y

45.2830.62(30.99)(19.86)

O+&6.(!M*!-,!($!"+9-%,!/(%-(&8!( &6&!:!-&(+E(>$+L&(6-/(5+,, 25.05

<"&#6.("+-&$%K#&%+-(6-/(K!-!L&(*6':!-&,(E+$('!6$(3)$D-I!4'+'V$!7-9.'+$,Actual contributions

(68.89)28.66

1!&(6,,!&Q;.%6K%.%&'B($!"+9-%,!/(%-(&8!(=6.6-"!( 8!!&(6(','+$!;-ID'!&/!5'V+'5!4'+'V$!&4I#:-$#&+Fair value of plan assetsOD+5'5!,$-$D,!fLD(7ID,HXM'V)#$Yg!Unrecognised past service costs

(375.53)345.55(29.98)

1!&(6,,!&Q;.%6K%.%&'B($!"+9-%,!/(%-(&8!(=6.6-"!( 8!!& (29.98)

Contd.


79

Note 28 Disclosures under Accounting Standards (contd.)

Particulars As at 31-Mar-2014

Actuarial assumptionsDiscount rateExpected return on plan assetsSalary escalationAttritionEstimated amount of Contribution in

the next year

9.29%8.70%6.00%

Employee Grade wise trendRs 22.97 Lacs

Experience adjustments 31-Mar-2014 31-Mar-2013 31-Mar-2012 31-Dec-2010 31-Dec-2009

Present value of DBOFair value of plan assetsOD+5'5!,$-$D,!fLD(7ID,HXM'V)#$Yg

375.53345.55(29.98)

382.77356.20(26.57)

361.12433.4572.33

413.81388.60(25.21)

324.87321.96(2.91)

^Z7'(#'+)'!:-#+HXI&,,Y!-5hD,$.'+$,!&+!7I-+!liabilities

35.42 43.29 (6.84)35.42 43.29 (6.84)

Refer Note (c)^Z7'(#'+)'!:-#+HXI&,,Y!-5hD,$.'+$,!&+!7I-+!assets

(1.41) (2.33) 5.09(1.41) (2.33) 5.09

ii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacsii. Long term Compensated Absences as at 31-March-2014 is INR Nil Lacs

W&.7'+,-$'5!34,'+)',!-('!-)$D-(#-II9!;-ID'5!-,!-$!$%'!'+5!&/!$%'!b'-(R!The acturial assumptions are as under:

Particulars As at 31-Mar-2014

Actuarial assumptionsDiscount rateExpected return on plan assetsSalary escalation

9.29%8.70%6.00%

Notes:(a) The discount rate is based on the prevailing market yields of Government of India securities as at the Balance Sheet date for the estimated term of the obligations.X4Y!\%'!',$#.-$'!&/!/D$D('!,-I-(9!#+)('-,',!)&+,#5'('5=!$-K',!#+$&!-))&D+$!$%'!#+a-$#&+=!,'+#&(#$9=!7(&.&$#&+=!#+)('.'+$,!-+5!other relevant factors.X)Y!\%'!5'$-#I,!&/!'Z7'(#'+)'!-5hD,$.'+$,!-(#,#+:!&+!-))&D+$!&/!7I-+!-,,'$,!-+5!I#-4#I#$#',!/&(!$%'!9'-(,!SBBc SB>B!-,!('CD#('5!49!3))&D+$#+:!L$-+5-(5!X3LY*>A!i^.7I&9''!T'+'V$,j!-('!+&$!-;-#I-4I'!#+!;-ID-$#&+!('7&($R\%'!-4&;'!5#,)I&,D(',!'Z)ID5'!$%'!V:D(',!&/!$%'!&;'(,'-,!4(-+)%=!-,!#$!#,!:&;'(+'5!49!$%'!I-",!7(';-#I#+:!#+!PL3R

iii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacsiii. Short-term Compensated absences pertaining to MPS NA LLC amounts to Rs. 0.49 Lacs

D86-9!(%-(/!L-!/(K!-!L&(+K.%96&%+-,(;)=?B(/#$%-9(&8!('!6$Present value of DBO at beginning of the yearCurrent service costInterest cost3)$D-(#-I!X:-#+,YHI&,,',T'+'V$,!7-#5

382.7745.2830.62(14.25)(68.89)

Present value of DBO at the end of the year 375.53

Change in fair value of assets during the yearPlan assets at beginning of the yearExpected return on plan assetsActual company contributions3)$D-(#-I!:-#+HXI&,,Y!T'+'V$,!7-#5

356.2030.9928.66(1.41)

(68.89)

Plan assets at the end of the year 345.55

Actual return on plan assets 29.58

D+:*+,%&%+-(+E(&8!(*.6-(6,,!&,(%,(6,(E+..+7,PCentral Government SecuritiesState Government SecuritiesGovt. Guaranteed SecuritiesDebentures and BondsEquity SharesFixed DepositsMoney Market Instruments

22.94%18.00%

1.37%37.52%

4.69%14.99%

0.49%




Note Particulars

29.1 Segment information

The Group operates in one business segment of providing publishing solutions viz., typesetting and data digitization services and is considered to constitute a single segment in the context of primary segment reporting as prescribed by Accounting Standard 17 - “Segment Reporting”.

The Group’s operations are managed on a worldwide basis from India and United States of America and they operate in four principal geographical areas viz., India, Europe, United States of America and Rest of the World.\%'!,')&+5-(9!,':.'+$!#,!#5'+$#V'5!$&!$%','!:'&:(-7%#)-I!I&)-$#&+,R

Details of secondary segment by geographical locations are given below:

Revenue by location of customer


IndiaEuropeUSARest of the World

22.968,850.28

10,347.03508.22

Total 19,728.49

Carrying amount of Segment Assets by geographical location


IndiaEuropeUSARest of the World

7,122.121,861.342,451.79

99.71

Total 11,534.96

Cost incurred for purchase of Tangible Assets and Intangible Assets by geographical location


IndiaUSA

276.27527.58

Total 803.85


81


Note Particulars

30 Related party transactions Names of related parties

30.a Details of related parties:

Description of relationship

(i) Holding Company ADI BPO Services Limited

X##Y!J'9!1-+-:'.'+$!6'(,&++'I!XJ16Y Mr. Nishith Arora, Chairman and Managing DirectorMr. Rahul Arora, Director (w.e.f 12-Aug-2013)

X###Y!G'I-$#;',!&/!J16 1(R!G-%DI!3(&(-=!W%#'/!1-(K'$#+:!Uk)'(!X$#II!>>*3D:*SB>`Y

1(,R!b-.#+#!\-+5&+=!l#)'!6(',#5'+$*L'(;#)'!M'I#;'(9!(w.e.f. 17-Feb-2014)

30.b Details of related party transactions during the year ended 31 Mar, 2014 and balances outstanding as at 31 Mar, 2014:

INR in Lacs

HoldingCompany

KMP

Relatives ofKMP

Total

6D()%-,'!&/!VZ'5!-,,'$, 40.41 40.41

Rent 275.82 275.82

Reimbursement of expenses 6.08 6.08

Dividend 2,144.89 2,144.89

Remuneration:

Nishith Arora 157.79 157.79

Rahul Arora 48.98 10.7948.98 10.79 59.77

b-.#+#!\-+5&+ 3.44 3.44

Balances outstanding at the end of the year

Security Deposit Placed (Refer Note 12) 100.00 100.00

Payables on account of reimbursement of expenses 6.08Payables on account of reimbursement of expenses 6.08 6.08

Notes>R!F&!-.&D+$!%-,!4''+!"(#$$'+!&[H"(#$$'+!4-)K!5D(#+:!$%'!9'-(!#+!(',7')$!&/!5D',!/(&.H$&!('I-$'5!7-($#',R

30.c \%'!('.D+'(-$#&+!$&!J'9!1-+-:'.'+$!6'(,&++'I!#+)ID5',!G,R!?mRcm!<-),!7-#5!-,!('.D+'(-$#&+!$&!1(!G-%DI!3(&(-=!n%&I'!\#.'!M#(')$&(!'[')$#;'!/(&.!3D:D,$!>S=!SB>`R!3+!-77I#)-$#&+!"-,!.-5'!$&!$%'!W'+$(-I!2&;'(+.'+$!7D(,D-+$!$&!L')$#&+!Sdc=!310 read with Part A of Schedule XIII since Mr. Rahul Arora was not a resident in India for a continuous period of 12 months immediately preceding the date of his appointment as a Whole Time Director. The Central Government has taken on record $%'!-/&(',-#5!-77I#)-$#&+!-+5!%-,!#+/&(.'5!;#5'!$%'#(!I'$$'(!5-$'5!_-+D-(9!c=!SB>?!$%-$!$%'!.-$$'(!"#II!4'!/D($%'(!'Z-.#+'5!on receipt of the shareholders’ approval. Accordingly, the above is subject to approval of the shareholders and the Central Government.






31.1 Details of leasing arrangements

As Lessee

\%'!W&.7-+9!%-,!'+$'('5!#+$&!)-+)'II-4I'!-+5!+&+*)-+)'II-4I'!&7'(-$#+:!I'-,',!/&(!&k)'!premises and cancellable leases for vehicles. Lease rentals recognised in respect of such &7'(-$#+:!I'-,',!#+!$%'!L$-$'.'+$!&/!6(&V$!-+5!<&,,!#,e 707.73

The total of future minimum lease payments in respect of premises taken on lease under non-cancellable operating leases are as follows:

Future minimum lease payments

not later than one yearI-$'(!$%-+!&+'!9'-(!-+5!+&$!I-$'(!$%-+!V;'!9'-(,I-$'(!$%-+!V;'!9'-(,

211.74166.99

378.73



31.2 Earnings per share

Basic

F'$!7(&V$!/&(!$%'!9'-(H7'(#&5!-$$(#4D$-4I'!$&!$%'!'CD#$9!,%-('%&I5'(,!XG,!#+!<-),Y 4,214.40

Weighted average number of equity shares 168,22,668

Par value per share (Rs.) 10.00

Earnings per share - Basic and diluted (Rs.) 25.05

As at 31-Mar-2014


31.3 M'/'(('5!$-Z!XI#-4#I#$9YH-,,'$

O6M(!R!"&(+E(%&!:,("+-,&%&#&%-9(/!E!$$!/(&6M(.%6K%.%&'

U+!5#['('+)'!4'$"''+!4&&K!4-I-+)'!-+5!$-Z!4-I-+)'!&/!VZ'5!-,,'$,e (19.63)

(19.63)

O6M(!R!"&(+E(%&!:,("+-,&%&#&%-9(/!E!$$!/(&6M(6,,!&

6(&;#,#&+!/&(!)&.7'+,-$'5!-4,'+)',=!:(-$D#$9!-+5!&$%'(!'.7I&9''!4'+'V$, 40.74

6(&;#,#&+!/&(!5&D4$/DI!$(-5'!(')'#;-4I',H-5;-+)', 45.28

Others 59.05

145.07

1!&()!E!$$!/(O6M(<,,!&Q;5%6K%.%&'B 125.44


83

Particulars

Period of the Financial Statements considered May 29, 2013 (being date of Incorporation) to March 31, 2014

Currency USD

Share capital 1,047.24

Reserves (90.27)

Total assets 1,097.25

Total liabilities 1,097.25

Details of Current and Non-Current Investment (except Investment in Subsidiaries)

Nil

Turnover 899.28

6(&V$HX<&,,Y!4'/&('!$-Z-$#&+! (199.18)

Provision for taxation (69.14)

6(&V$HX<&,,Y!-/$'(!$-Z-$#&+! (130.04)

Proposed Dividend Nil

Sr. No.

Currency

Balance Sheet(Closing Rate)

!"!#$#%!&'(&)*'+!&"%,

Loss (Average Rate)

1 USD 59.92 62.53

(ii) The above information is extracted from the Financial Statements of the Subsidiary considered in the Consolidated Financial Statements, which have been subject to audit by the Statutory Auditors solely for the purpose of inclusion in the Consolidated Financial Statements.

32 Details of the subsidiary company (MPS NA LLC) consolidated for the year ended 31 March, 2014:

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following exchange rates are used for 1 INR


Nishith Arora Vijay SoodChairman and Managing Director Director

Sunit Malhotra Supriya Kumar Guha?-!*1#$!(3('!3:#@A'*& ?%743(2#B*'&*+3&2

Place: MumbaiDated: 22-May-2014


MPS LIMITED

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Page_84_85_Attendance_slip.indd 84 05/07/14 5:29 PM

MPS LIMITED

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Form No. MGT-11

PROXY FORM

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Page_84_85_Attendance_slip.indd 85 05/07/14 5:29 PM

Documents

MPS Ltd (ONF)...4 44 th Annual Report 13,995 12,742 19,101 16,400 18,829 713 (881) 1,087 3,189 4,344 25,000 20,000 15,000 10,000 5,000 0 (5,000) 2011–12 (15 months) 2012–13 2013–14